Hengbao Corporation: There have been no significant changes in the company's operating situation and internal and external operating environment in the recent period.

Hengbao Co., Ltd.'s stock has deviated from the closing price by more than 20% for three consecutive trading days, which constitutes abnormal fluctuations in stock trading according to the relevant regulations of the Shenzhen Stock Exchange. There has been no significant undisclosed information in the public media that may have or has had a significant impact on the trading price of the company's stock recently. The company's operating conditions and internal and external operating environment have not undergone significant changes recently. Upon verification, there are no significant undisclosed matters about the company that should be disclosed by the company, the controlling shareholder, or the actual controller, or significant matters in the planning stage. Upon verification, the controlling shareholder and the actual controller of the company have not bought or sold the company's stock during the period of abnormal fluctuations in stock trading.