Huayi Brothers: Alibaba's venture capital and Jack Ma's shareholding proportion will decrease to 4.999996%.

Huayi Brothers announcement, Alibaba Capital reduced its shareholding in the company by 29.5268 million shares through block trading on December 17, 2025, accounting for 1.064219% of the total share capital of the company. Its shareholding ratio decreased from 3.467799% to 2.403580%. The shareholding ratio of Alibaba Capital and its concerted action person Mr. Jack Ma decreased from 6.064215% to 4.999996%. After the reduction, Alibaba Capital and Mr. Jack Ma collectively held 139 million shares of the company, accounting for 4.999996% of the total share capital of the company, no longer being a shareholder with more than 5% ownership. This reduction is conducive to the stability of the company's equity structure and will not have any adverse effects on the company's normal operations.