Gaoce Group: Chairman Zhang Xu has reduced his holdings by 20,743,700 shares, decreasing his ownership to 20.00%.

Announcement of Gaocai Holdings: The company's controlling shareholder, actual controller, and chairman Zhang Xu reduced their holdings in the company by a total of 20,743,700 shares through centralized bidding and block trading from April 15, 2026 to May 19, 2026, accounting for 2.50% of the company's total share capital. The shareholding ratio decreased from 22.50% to 20.00%, triggering a change in equity that involves multiples of 5%.