Qianfang Technology: Received a warning letter from the Zhejiang Regulatory Bureau due to improper reduction.

Qianfang Technology announced that the company recently received the "Administrative Supervision Measure Decision Letter" from the Zhejiang Regulatory Bureau. On January 7, 2026, the company's shareholding in Hangzhou Hongquan Internet of Things Technology Co., Ltd. decreased from 10.39% to 9.99%, triggering a decrease of more than 5% and failing to stop trading and disclose the "Simplified Equity Change Report" in a timely manner, and was disclosed late until March 11. The Zhejiang Regulatory Bureau decided to issue a warning letter to the company and record it in the integrity file, and the company should submit a written report within 10 working days. The company stated that it will strengthen learning, regulate behavior, and prevent such violations in the future.