JIANZHONG CONS(00589): The Independent Investigation Committee is looking for suitable independent professional consultants.

JIANZHONG CONS (00589) announces that during the review of the annual performance for the year 2023, the Board of Directors and the Audit Committee of the Company have received a letter from the Company's auditors dated February 19, 2025 (the Auditor's Letter), in which the auditors request that the Audit Committee establish an independent investigation committee; and appoint independent professional advisors to conduct independent investigations into certain related party transactions between the Group and companies controlled by the Company's controlling shareholders, as well as certain situations involving the use of third-party bank accounts in the Group's daily operations. Upon receipt of the Auditor's Letter, the Company has taken immediate action. The Audit Committee established an independent investigation committee (the Independent Investigation Committee) on February 24, 2025, with initial members including Ms. Wang Huaping, Mr. Fu Binjie, and Mr. Fan Wei, all of whom are independent non-executive directors. Ms. Wang Huaping has been appointed as the Chairperson of the Independent Investigation Committee. The responsibilities and objectives of the Independent Investigation Committee are to commission and lead independent professional advisors in conducting investigations into the audit issues raised by the auditors. As of the date of this announcement, the Independent Investigation Committee is in the process of identifying suitable independent professional advisors. The Company will appoint and engage independent professional advisors as soon as practically possible, and will publish further announcements on the progress and results of the investigation. Furthermore, trading of the company's shares remains suspended.