Jiaoyun Group: Planning for a major asset swap and related transactions, work is progressing in an orderly manner.

Jiaoyun Corporation announced that the company plans to conduct asset swap with its controlling shareholder Jiushi Group and its affiliates. The company intends to inject assets related to cultural and entertainment industry, tourism industry, and dispose of assets related to passenger car sales and automotive aftermarket services. The difference will be made up in cash. This transaction constitutes a related party transaction and a major asset restructuring, which will not result in a change of controlling shareholder or actual controller. Currently, the due diligence, audit, and evaluation work related to the transaction are progressing in an orderly manner. The transaction still needs to go through necessary decision-making procedures and be filed or approved, and there is significant uncertainty on whether it can be implemented in the end.