Beauty and Grace: Beijing Xiaozhi Xiao Management Consulting Co., Ltd. reduced its holdings by 70.37 million shares.

Beauty makeup announcement, the obligor of information disclosure Beijing Xiaozhixiao Management Consulting Co., Ltd. signed a "Partnership Agreement" and "Admission Agreement" with Morning Red and other partners of Linlang Huancai, stipulating that the executive partner of Linlang Huancai will be changed from the obligor of information disclosure to Morning Red. After this change in equity, the obligor of information disclosure will no longer serve as the executive partner of Linlang Huancai, a shareholder of Beauty Makeup, and its superior partner Linlang Yicai, but only hold 0.18% and 4.78% partnership shares in Linlang Huancai and Linlang Yicai, indirectly controlling the shareholding ratio of Beauty Makeup to 0%.