Tower Group: Shareholder Xu Yongshou, who holds more than 5% of shares, reduced his holdings to below 1% threshold.

The Tower Group announced that shareholder Xu Yongshou, who owns more than 5% of the shares, originally planned to reduce his holdings by no more than 11.6803 million shares within 3 months after the disclosure of the reduction plan. On December 1, 2025, he reduced 5 million shares through centralized bidding trading, accounting for 0.43% of the total share capital after excluding the shares in the repurchase special account. After the reduction, Xu Yongshou holds a total of 88.6571 million shares, accounting for 7.59% of the total shares, with a change in shareholding percentage exceeding the 1% threshold. The reduction plan has not been fully implemented and will not result in a change of control in the company.