Xinyangfeng: Warning letter issued due to insufficient basis for income recognition.

Announcement from Xinyang Feng: Due to insufficient basis for recognizing some trade business revenue, the company and related personnel respectively recognized excess revenue of 153 million yuan, 111 million yuan, and 15 million yuan from 2018 to 2020, violating relevant regulations of the "Listed Companies Information Disclosure Management Measures". Hubei Securities Regulatory Bureau has decided to take administrative supervision measures by issuing warning letters to the company, former chairman Yang Caixue, CEO Huang Bin, and CFO Yang Xiaohong, and include them in the securities and futures integrity file. The company and related personnel will carefully learn from this lesson, strengthen their study of securities laws and regulations, enhance the management of information disclosure affairs, and improve the quality of financial information disclosure.