Five Continents Specialty Papers: The implementation of the reduction plan by the controlling shareholder and the concerted action parties has been completed.

Wuzhou Special Paper announced that on August 7, 2025, Lin Wanming and Zhao Yunfei, both of whom are controlling shareholders and one of the actual controllers, disclosed their plan to reduce their holdings due to their own financial needs. Lin Wanming planned to reduce his holdings by no more than 1,240,818 shares, while Zhao Yunfei planned to reduce his holdings by no more than 480,900 shares. As of November 28, the period for reducing holdings had expired. Lin Wanming had reduced his holdings by a total of 1,240,818 shares, accounting for 0.26% of the current total shares, with a total reduction amount of 14.89 million yuan. Zhao Yunfei had reduced his holdings by a total of 480,900 shares, accounting for 0.10% of the current total shares, with a total reduction amount of 5.6018 million yuan. Both individuals have completed their reduction plans.