Natural Gas in Anhui: The proportion of the shareholding of shareholders with more than 5% of the shares has been passively diluted to 18.93%.

Wan Natural Gas announced that as of November 11, 2025, a total of 239 million yuan of "Wan Natural Gas Convertible Bonds" have been converted into the company's A shares, with a total of 34.3751 million shares converted. The company's total share capital has increased from 490 million shares to 512 million shares. The shareholding percentage of the company's largest shareholder, Hong Kong China Gas Limited, with more than 5% ownership, has been passively diluted from 19.77% to 18.93%, reaching a whole number percent, with no change in shareholding quantity. This equity change is a result of bond conversion and stock incentive causing passive dilution, does not trigger a tender offer, and will not affect the company's governance structure and ongoing operations.