Fancy Year Holdings: Overseas debt restructuring plan is approved by about 99.67% of creditors. Implementation will commence after court approval.

Huayuan Development Holdings announced in the evening of February 22 that it has obtained support from approximately 99.67% of the planned creditors at the planned meeting, approving the Hong Kong plan and Cayman plan, and meeting the core requirements for approval by the Hong Kong court and Cayman court. The planned meeting was held at 7:00 pm on February 20, 2026 at the office of Nianlida Law Firm in Hong Kong, and a vote was taken. After the approval of the creditors' meeting, Huayuan Development Holdings will separately apply to the Hong Kong court and the Cayman Islands court for the approval and recognition of the Hong Kong plan and the Cayman plan. The hearing for the approval of the Hong Kong plan is scheduled for 10:00 am on March 12, 2026, and the hearing for the approval of the Cayman plan is scheduled for 10:30 am on the same day. Upon court approval, the restructuring plan will officially enter the implementation phase.