North Shares: Shareholders holding more than 5% of the shares reduce their holdings, and the equity ratio drops to 10.87%.

Northern Stock announced that it has recently received a "Notice of Share Reduction" issued by its shareholder, TeWo Shanghai, who holds more than 5% of the shares. On December 25-26, 2025, TeWo Shanghai reduced its holdings by 663,600 shares through centralized bidding, accounting for 0.39% of the total share capital. After the change in equity, its holdings decreased from 19.15 million shares to 18.4864 million shares, and the percentage dropped from 11.26% to 10.87%, reaching the next whole number scale of 1%. This reduction is in accordance with the previous plan, does not involve a tender offer, and will not affect corporate governance and controlling rights. TeWo Shanghai is still within the reduction plan period, and the company will urge it to reduce its holdings in compliance and disclose information in a timely manner.