Gloria Ying announced that the company previously reviewed and approved the share repurchase plan. It plans to use no less than 500 million yuan and no more than 700 million yuan to repurchase A shares for employee shareholding plans/share incentives and capital cancellation. The repurchase price will not exceed 246 yuan/share. The implementation period is 12 months from the date of review and approval by the board of directors. Recently, the company obtained special loan commitment letters for stock repurchases issued by China Merchants Bank Tianjin Branch and China CITIC Bank Changchun Branch. Both banks have a maximum loan amount of 630 million yuan, and the loan period does not exceed 36 months. The letter of commitment is valid for one year from the date of issue. The actual loan usage amount will be determined in an integrated manner. The specific repurchase amount is subject to the actual repurchase amount.

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