Mingyang Circuit: Transfer of 53.69 million shares by controlling shareholders and their concerted action parties agreement.

Announcement from Mingyang Circuit: The transfer agreement between the controlling shareholder and its concerted action person, Run Jiaxi and Mr. Zhang Peike, has been completed and registered. Run Jiaxi transferred 35.8 million shares of unrestricted common stock and 53.69 million shares to Mr. Zhang Peike at prices of 12.9 yuan per share and 11.7 yuan per share, totaling 462 million yuan and 628 million yuan. The transfer was completed on March 12, 2026. After the transfer, Mr. Zhang Peike directly holds 88.286 million shares of the company, accounting for 23.64% of the total share capital; the concerted action persons collectively hold 173 million shares of the company, accounting for 46.44% of the total share capital. The controlling shareholder of the company has changed from Run Jiaxi to Mr. Zhang Peike.