• Explanation on Confidentiality Measures and Confidentiality System Adopted for This Transaction

  August 19, 2025

• Explanation on the Basis and Fairness of the Pricing for This Transaction

  August 19, 2025

• Explanation on This Transaction’s Compliance with Article 18 and Article 21 of the Measures for Continuous Supervision of GEM Listed Companies (Trial) and Article 8 of the Shenzhen Stock Exchange Rules for the Review of Major Asset Restructurings of Listed Companies

  August 19, 2025

• Explanation on This Transaction’s Compliance with Article 4 of the Guidelines for the Supervision of Listed Companies No. 9—Supervisory Requirements for the Planning and Implementation of Major Asset Restructurings by Listed Companies

  August 19, 2025

• 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