Guizhou Maotai Wang Li: There are advantages and disadvantages to splitting stocks and not splitting stocks. I am willing to discuss with the majority of shareholders.

On September 12th, Maotai, a company in Guizhou, held a half-year performance briefing for 2025. Some investors suggested that the company should split its stock, for example, with a 1 to 10 split. In response to this, director Wang Li of the listed company stated that the shareholders' views on whether or not to split the stock are not completely unified at the moment. Some agree, some oppose, but they are all looking at it from the perspective of Maotai's development. Thank you very much for your concern about Maotai. Both splitting the stock and not splitting the stock have their advantages and disadvantages based on existing cases. We are willing to discuss this topic with shareholders when the opportunity arises.