According to the announcement of Shuiyang Co., Ltd., the company recently received a notice from the controlling shareholder Hunan Yujia Investment Management Co., Ltd., that Yujia Investment has pledged 10 million shares, accounting for 10.43% of its shares and 2.27% of the company's total share capital. The starting date of the pledge is September 17, 2026. The pledger is CITIC Securities Co., Ltd., and the purpose of the pledge is shareholders' capital requirements. This stock pledge has nothing to do with the company's production and operation needs. There is no risk of liquidation of the pledged shares, and it will not adversely affect the company's operations and corporate governance.

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