Wan Tong Development: Intends to reduce its shareholding by no more than 1%.

Announcement of Wantong Development: The company plans to reduce the repurchased shares by no more than 19.1691 million shares, accounting for 1% of the total share capital of the company, through centralized bidding trading from the 15th trading day after the announcement disclosure date to August 26, 2025. The specific details of the reduction plan are as follows: The seller is Beijing Wantong New Development Group Co., Ltd. Repurchase Special Securities Account, holding 45.6727 million shares, representing 2.3826% of the shares. The reduction price will be determined based on the secondary market price at the time of sale, and the funds raised from the reduction will be used to supplement the company's working capital. It is expected that after the reduction is completed, the shares held by the repurchase special securities account of the company will decrease from 45.6727 million shares to 26.5036 million shares, and the proportion of the total share capital of the company will decrease from 2.3826% to 1.3826%. This reduction plan will not result in a change in the company's controlling interest and will not have a significant impact on the company's operations, finances, and future development.