Guilin Tourism: Completion of the transfer of 100% equity and debt of Zijiang Danxia Company.

Guilin Tourism Announcement: The company publicly listed and transferred the 100% equity and debt of Guilin Zijiang Danxia Tourism Co., Ltd. held by the company at the Beibu Gulf Property Exchange from November 25, 2025 to December 22, 2025. The starting price for the listing was RMB 34.5 million. Guilin Yunjing Cultural Tourism Investment Co., Ltd. won the bid with RMB 34.5 million. The company has received the full payment and completed the change registration of equity and debt. The transfer has been fully completed, and the company no longer holds equity in Zijiang Danxia Company, which is no longer included in the consolidated financial statements.