Hongbaoli: The expiration of the first largest shareholder and the actual controller's reduction plan.

Hongbaoli announced that on July 19, 2025, the company disclosed the reduction plan of its largest shareholder Baoyuan Investment and actual controller Rui Jinggong. Baoyuan Investment plans to reduce no more than 13.1054 million shares, accounting for no more than 1.7824% of the total share capital; Rui Jinggong plans to reduce no more than 1.6 million shares, accounting for no more than 0.2176%. Recently, when the reduction plan period expired, Baoyuan Investment reduced 1.7072 million shares through centralized bidding trading on August 25-27, accounting for 0.2322%, with a remaining shareholding of 142.9268 million shares, accounting for 19.44%; Rui Jinggong did not reduce the holding and still holds 6.790314 million shares, accounting for 0.92%. This reduction did not exceed the plan, and does not affect the company's management and control rights.