Xinquan Stock: Invested 10 million yuan to establish a fully-owned subsidiary in Shanghai and completed registration.

New Spring Corporation announced that the company has previously approved the establishment of a wholly-owned subsidiary in Shanghai with an investment amount of 10 million yuan, holding 100% of its equity, mainly engaged in international trade and other businesses. Recently, the subsidiary has completed its business registration, named Shanghai New Spring Zhihe International Trade Co., Ltd., with Tang Zhihua as its legal representative, established on February 6, 2026. This investment meets the company's development needs and is conducive to advancing its globalization strategy. It will not have a significant impact on the financial and operating results of the current year, but there may be uncertainties in operation. The company will take measures to address risks.