Lao Fengxiang announced that Yang Yi, chairman of the company, proposed to buy back some of the company's B shares through centralized bidding transactions, and that the repurchase of shares is intended to reduce registered capital. The repurchase price does not exceed 150% of the average share transaction price of the company in the 30 trading days before the board of directors deliberates and approves the repurchase resolution. The number of repurchases is not less than 4 million shares and no more than 8 million shares. The total repurchase capital is not less than 100 million yuan and no more than 200 million yuan. The source of capital is own funds. The repurchase period is 12 months from the date the shareholders' meeting reviews and approves the repurchase plan. This repurchase is still subject to relevant approval procedures, and there is uncertainty.

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