Letong Co., Ltd.: Concerted action by persons acting in concert with the controlling shareholder to offset debt with shares triggers a change in equity interests reaching 5%.

Letong Co., Ltd. announced that 9.47 million pledged shares held by Youyue Meisheng, a person acting in concert with the controlling shareholder Dasheng Assets, have completed transfer via debt-for-equity swap, with 6.63 million shares transferred to Cui Jia and 2.84 million shares to Xiao Shiqiang, with the pledges released simultaneously, to settle relevant debts of Dasheng Assets. Following this change, Youyue Meisheng's shareholding ratio dropped from 4.52% to less than 0.01%, and the combined shareholding ratio of Dasheng Assets and its persons acting in concert decreased from 29.35% to 24.83%, crossing the 5% integer multiple threshold, and will not cause a change in the company's controlling shareholder or actual controller. Currently, the proportion of shares cumulatively pledged and judicially frozen by Dasheng Assets and its persons acting in concert to their total holdings both exceed 80%.