Merkel: Changes in equity of shareholders holding more than 5% and their concerted actors touch 1%

Maike Long announced that from December 12 to December 16, 2025, Taobao Holdings and the New Retail Fund collectively reduced their holdings of the company by 41.6466 million H shares through centralized bidding, accounting for 0.96% of the company's total share capital. Among them, Taobao Holdings and the New Retail Fund reduced their holdings by 20.8232 million shares and 20.8234 million shares, respectively. After this change in equity, the total shareholding ratio of Hangzhou Haoyue, a shareholder holding more than 5% of the company's shares, and its concerted action person, decreased from 7.33% to 6.37%, reaching a multiple of 1%. In addition, Hangzhou Haoyue plans to reduce its holding of up to 131 million shares, accounting for 3% of the total share capital, from December 25, 2025, to March 24, 2026, but has not yet started to reduce its holdings. This change will not affect the company's controlling rights and operations.