Quzhou Development: Xinhul Group's 0.26% shares were forcibly sold by the judiciary.

Quzhou Development Announcement: Due to a contractual dispute, Xinhul Group was forced by judicial order to sell 22.2564 million shares of the company, accounting for 0.26% of the total share capital, at a price range of 3.14 to 3.96 yuan per share, totaling 78.5523 million yuan. After the disposal, Xinhul Group holds 504 million shares, accounting for 5.93%; together with the concerted action parties, they hold a total of 2.362 billion shares, accounting for 27.76%.