Bailian Group: Planning to terminate the equity trusteeship of Lianhua Supermarket is still in the planning stage.

Bailey Corporation announced that it plans to terminate the entrusted management of the 614.16 million shares of Lianhua Supermarket held by its controlling shareholder, Bailey Group. After completion, the voting rights exercised by the company in Lianhua Supermarket will decrease from 56.66% to 15.15%, and it will no longer be included in the consolidated financial statements. This transaction constitutes a related party transaction and is expected to constitute a major asset restructuring. As of the date of the announcement, the company is progressing with the relevant work, but has not yet signed an agreement, and the transaction scheme is still subject to demonstration and negotiation. This transaction is still in the planning stage, and there is uncertainty as to whether it can be reached and implemented in the end.