Chu Tianlong announced that the controlling shareholder of the company, Wenzhou Xianghongwan Enterprise Management Co., Ltd. reduced its holdings of the company's shares by 3.652,400 through bulk transactions from October 16 to October 20, 2026, accounting for 0.79% of the company's total share capital. After this equity change, the total shareholding ratio of Wenzhou Xianghong Bay and the co-actor Wenzhou Yima Enterprise Management Center fell from 47.27% to 46.48%, and the equity change hit an integer multiple of 1%. This holdings reduction is consistent with the previously disclosed holdings reduction plan. It will not lead to a change in the company's control and will not have a significant impact on the company's continued operation.

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