Lion Head Holdings: Received the Implementation Letter of Opinions from the Shanghai Stock Exchange Review Center to Promote Major Asset restructuring.

Lionhead Holdings announced that the company plans to purchase 97.4399% of the shares of Hangzhou Lipper Technology held by 14 trading parties including Wang Xulong and Deng Haoyu through the issuance of shares and payment of cash, and raise supporting funds. Recently, the company received a letter from the review center of the Shanghai Stock Exchange, requesting the timely submission of the restructuring report. The company and related intermediary institutions will submit the documents as required. This transaction still requires approval from the Shanghai Stock Exchange and registration approval from the China Securities Regulatory Commission. It is uncertain whether it will be approved and the timeframe for approval.