Zhenyang Development: Disclosure of major asset restructuring plan The company will resume trading on September 3, 2025.

Zhenyang Development Announcement: The company is planning to issue A-shares to all shareholders of the company from Zhejiang, Shanghai, Hangzhou, and Ningbo for the purpose of stock exchange and merger. As this transaction is still in the planning stage, there is significant uncertainty in related matters. Zhenyang Development has been suspended from trading since August 20, 2025, and resumed trading on September 3, 2025. The company held a board meeting on September 2, 2025, and approved relevant proposals. However, the auditing, valuation, and other related work have not been completed, so the shareholders' meeting to discuss the transaction has not been convened. The transaction proposal still needs to be approved by the company's board of directors and shareholders' meeting, as well as obtaining the necessary approvals, endorsements, or consents, which also involve uncertainties. Investors should pay attention to the related risks.