San Bai Shuo: Controlling shareholder Haishuo Development and concerted action person Ningbo Hechuang plans to reduce their holdings by no more than 3%.

San Bo Shuo announced that the controlling shareholder Haishuo Development and the concerted action person Ningbo Hechuang collectively hold 130 million shares, accounting for 53.3168%, and 53.6015% excluding shares held in the repurchase special account. The two parties plan to collectively reduce their holdings by no more than 7.2744 million shares, or 2.9841%, within three months starting from the expiration of 15 trading days after disclosure, with 3.0000% excluding shares held in the repurchase special account. This includes reducing by no more than 2.4248 million shares, or 0.9947%, through centralized bidding and by no more than 4.8496 million shares, or 1.9894%, through block trading.