Xingfa Group: The conversion of convertible bonds into shares resulted in the passive dilution of Zhejiang Jinfanda's shareholding ratio to 15.95%.

The announcement of Xingfa Group states that as of January 28, 2026, a total of 13,575,230 shares of "Xingfa Convertible Bonds" have been converted into shares, increasing the total number of company shares to 1,116,824,493 shares. Due to the cumulative conversion of 13,568,560 shares of "Xingfa Convertible Bonds" from June 24, 2025 to January 28, 2026, the shareholding percentage of Zhejiang Jinfanda, a shareholder holding more than 5%, was passively diluted from 16.14% to 15.95%, reaching a multiple of 1%, without affecting the number of shares held. This change in equity did not trigger a mandatory buyout, and will not result in a change in the company's controlling shareholders or actual controllers.