Shanghai Huayi has completed the increase in holdings of Huayi Group shares, with the lawyer verifying compliance.

The Guohao Law Firm, commissioned by Shanghai Huayi Group Co., Ltd., has issued a special inspection opinion on the matter of its controlling shareholder, Shanghai Huayi Holdings Group Co., Ltd., increasing its shareholding. As of September 2025, Shanghai Huayi is a legally existing company, with no restrictions on acquiring listed companies, and has the qualifications to increase its holdings. Before this increase, Shanghai Huayi and its concerted actors held a 37.14% stake. The increase plan was announced on March 18, 2025 and completed on September 17, increasing a total of 20,279,342 shares, with a total amount of 153,873,896.49 yuan, accounting for 0.96% of the total equity. The lawyers believe that this increase complies with relevant regulations, does not require a tender offer, and the company has also fulfilled its disclosure obligations.