Jiangsu Tianmu Lake Tourism plans to terminate the capital increase for its joint ventures.

Jiangsu Tianmu Lake Tourism Co., Ltd. announced that due to the decision to terminate the Tianmu Lake Animal Kingdom Cultural and Tourism Complex project by its joint venture company Jiangsu Tianmu Lake Animal Kingdom Tourism Co., Ltd., the capital increase and share expansion plan approved on August 8, 2024, has also been terminated. Tianmu Lake Tourism plans to cease the additional capital injection of 179.82 million yuan to the joint venture company, with a total investment of 19.98 million yuan. This matter has been approved by the 15th meeting of the Sixth Board of Directors and still requires shareholder approval. The termination of this capital increase will not result in significant losses for the company and will have no significant adverse impact on its existing business and financial condition. The company will negotiate the settlement of early-stage investments and contract follow-up matters, fulfill its disclosure obligations, and remind investors to pay attention to risks.