Mountain beyond mountain: Shareholder Liu Yunjun, who holds more than 5% of the shares, reduces his stake in the company by 0.31%.

Shanwai Mountain announced that from February 9, 2026 to April 2, 2026, shareholder and former director Liu Yunjun reduced a total of 997,938 shares of the company through centralized auction trading, accounting for 0.31% of the total share capital of the company. The shareholding ratio decreased from 12.30% to 11.99%, reaching the 1% threshold. This equity change is to fulfill the previously disclosed reduction plan, has not been fully implemented, will not have a significant impact on the company's governance structure and continuous operation, and will not result in a change in the controlling shareholder or the actual controller.