ST Joint Investment: The company's restructuring plan has been completed, or an application has been made to revoke the delisting warning.

*ST Jiaotou announced that on December 24, 2025, the company submitted a report on the implementation of the restructuring plan, which was reviewed by the administrator, and the "Restructuring Plan" has been fully implemented. During the implementation, the company increased its total share capital from 184 million shares to 451 million shares by issuing 267 million new shares to implement the "Restructuring Plan". The restructuring resolved the company's debt crisis, improved the asset-liability structure, and is expected to impact the financial condition in 2025. Due to poor performance in 2024, the company's stock was subject to "delisting risk warnings" and "other risk warnings". The company will apply for the revocation of the corresponding delisting risk warnings, but the results are uncertain.