• Explanation on the compliance of this transaction with Article 11 of the Administrative Measures for the Registration of Securities Issuance by Listed Companies

  August 19, 2025

• Explanation on the compliance of this transaction with Articles 11, 43, and 44 of the Administrative Measures for the Major Asset Restructuring of Listed Companies

  August 19, 2025

• Explanation on the related party transaction nature of this transaction

  August 19, 2025

• Explanation on the completeness and compliance of the statutory procedures performed for this transaction and the validity of the submitted legal documents

  August 19, 2025

• Explanation on the purchase and sale of assets within 12 months prior to this transaction

  August 19, 2025

• Explanation on whether this transaction will dilute the immediate returns of the listed company and the corresponding measures

  August 19, 2025

• Explanation on the absence of circumstances specified in Article 12 of the Guidelines for the Supervision of Listed Companies No. 7—Supervision of Abnormal Stock Trading Related to Major Asset Restructuring of Listed Companies and Article 30 of the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 8—Major Asset Restructuring by relevant parties in this transaction

  August 19, 2025

• Explanation on the stock price fluctuations of the company prior to the disclosure of information on this transaction

  August 19, 2025

• Independent opinion on the independence of the appraisal institution, the reasonableness of the appraisal assumptions, the relevance of the appraisal methods to the appraisal purpose, and the fairness of the transaction pricing in this transaction

  August 19, 2025

• Explanation on the independence of the appraisal institution, the reasonableness of the appraisal assumptions, the relevance of the appraisal methods to the appraisal purpose, and the fairness of the transaction pricing in this transaction

  August 19, 2025