Nine Tripod Investment: Downgrade net profit for 2025 to a loss of 340-370 million yuan. Stock may be subject to delisting risk warning.

Jiuding Investment announced that it is expected to achieve a net profit attributable to the shareholders of the listed company of -370 million to -340 million yuan in 2025. It is expected to achieve operating income of 270 million to 290 million yuan in 2025, and the operating income after deducting business income unrelated to the main business and income without commercial substance is 270 million to 290 million yuan, lower than 300 million yuan. The previous expected net loss was 3 billion to 3.5 billion yuan. The main reason for the performance change is that the previous audit was not fully conducted, the data is in the initial sorting stage, and after full communication and careful judgment with the accounting firm, the performance forecast is corrected based on the principle of prudence. According to the provisions of Article 9.3.2 of the Rules for the Listing of Stocks on the Shanghai Stock Exchange, after the disclosure of the 2025 annual report, the company's stock may be subject to delisting risk warning by the Shanghai Stock Exchange, please pay attention to investment risks.