*ST Qihuan announced that some of the total shares held by Sander Group, a shareholder holding more than 5% of the company's shares, and Sander Investment, its co-actor, were publicly auctioned. Of these, 49.96 million shares have been registered for transfer. Prior to this equity change, Sander Group and Sander Investment held a total of 102 million shares, accounting for 7.18% of the company's total share capital; after the change, they held a total of 53.1426 million shares, accounting for 3.73% of the total share capital. This change in equity does not affect the proposed acquisition, will not cause changes in the controlling shareholders and actual controllers of the company, and will not have a significant impact on the company's governance structure and production and operation.

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