Qinshang Group: Ruizhong Life Insurance reduces its holdings of 0.67% of the company's shares.

Announcement from Qinshang Co., Ltd: Ruizhong Life Insurance Co., Ltd. reduced its holdings in Qinshang Co., Ltd. through centralized bidding on the secondary market from September 8, 2025 to September 22, 2025, selling 9.5523 million shares, accounting for 0.67% of the total share capital of the company, at an average price of 2.51 yuan per share. After this reduction, Ruizhong Life Insurance holds 71.8297 million shares of Qinshang Co., Ltd., accounting for 5.00% of the total share capital of the company. Ruizhong Life Insurance does not rule out the possibility of increasing or decreasing its holdings in the company in the next 12 months.