Price Adjustment Notice

CHANGQIU (WENZHOU) SUPPLY CHAIN CO.,LTD

Dear Customers of CHANGQIU (WENZHOU) SUPPLY CHAIN CO.,LTD,

We sincerely thank you for your continued trust and support. Your support has enabled our company to grow steadily.

In recent years, broader market conditions have driven substantial increases in the prices of key raw materials used in our main products. In 2025 alone, copper prices rose by approximately 34%, silver prices by approximately 147%, and praseodymium–neodymium prices by approximately 42%. These increases have caused production costs to rise sharply, beyond what our company can absorb.

We previously sought to reduce costs by introducing automated production lines and improving management practices to address the pressure of rising raw material costs. However, raw material prices have continued to rise and are now at historically high levels, seriously affecting our normal operations. To maintain a stable product supply, after careful consideration, we have had to increase the prices of some of our products by approximately 7%, effective for orders placed on or after September 1, 2026. Contracts signed before that date will be fulfilled strictly at the original agreed prices.

This price adjustment is a measure we have had to take. We understand that it may cause you inconvenience, and we sincerely apologize. Alongside this adjustment, we remain committed to improving our product quality and service in appreciation of our customers’ support.

If you have any questions about this price adjustment, please feel free to contact us. Thank you again for your understanding and consideration. We look forward to continuing our partnership and building a better future together.

CHANGQIU (WENZHOU) SUPPLY CHAIN CO.,LTD

September 1, 2026