Jiarong Technology: Reply to the inquiry letter regarding the review of the issuance of shares for asset purchases and fundraising.

Jiarong Technology announced that the company plans to issue shares to acquire 100% of Hangzhou Lanran Technology Co., Ltd. held by Xiamen Puyu and 19 other trading partners, and to issue shares to Xiamen Puyu to raise matching funds. On July 3, the company received an inquiry letter from the Shenzhen Stock Exchange. After conducting verification, analysis, and research in conjunction with intermediary agencies, the company has completed its response. The company has revised the related report drafts and their summaries. This transaction still requires approval from the Shenzhen Stock Exchange and registration approval from the China Securities Regulatory Commission, and there is uncertainty regarding whether it can be approved and the timeline for approval.