Asian Development: The controlling shareholder's 52.26 million shares are frozen, and part of the controlling shareholder's equity is also frozen.

Asia Development announced that on December 22, 2025, it was informed that the controlling shareholder Zhili Development had 52.26 million shares frozen by the court on December 19, with an expiration date of December 18, 2028. As of the disclosure date of the announcement, Zhili Development and its concerted actors had a total of 52.26 million frozen shares, accounting for 68.54% of the total shares held and 13.29% of the total share capital. In addition, Wang Yongbin, the actual controller, had 83.16 million shares of Zhili Development frozen. This judicial freeze is related to the controlling shareholder providing guarantees to third parties and will not result in a change in the company's control rights.