Excellent Smart: Majority shareholder Wenfu Investment has reduced its holdings by 3.338 million shares.

Jiahe Intelligent Announcement: According to the reduction plan disclosed by the controlling shareholder Wenfu Investment on September 8, 2025, a total of 3.338 million shares were reduced through centralized bidding and block trading from November 26, 2025 to December 1, 2025. From November 25, 2025 to November 30, 2025, "Jiahe Convertible Bonds" converted a total of 1560 shares, resulting in an increase in total share capital. After this equity change, Wenfu Investment and the actual controller Yan Fan collectively hold 113 million shares, accounting for 30.00% of the total share capital excluding the repurchase special account, reaching a multiple of 5%.