Nanjing New 100: Received the Administrative Supervision Measures Decision Letter from Jiangsu Securities Regulatory Bureau.

Nanjing Xinbai announced that the company and its controlling shareholder, Sanbao Group, have received an administrative regulatory measure decision from the Jiangsu Securities Regulatory Bureau. The decision pointed out that Nanjing Xinbai had violations of failing to timely review and disclose external guarantee matters and failing to disclose the capital occupation by the controlling shareholder and its related parties in accordance with regulations. Sanbao Group also had violations of failing to report the list of related persons and capital occupation matters as required. According to relevant regulations, the Jiangsu Securities Regulatory Bureau has decided to take corrective measures against Nanjing Xinbai and issue a warning letter to the relevant responsible persons. At the same time, Sanbao Group and Yuan Yafei will also face the same regulatory measures. The company and related personnel have submitted a written rectification report and will strengthen their legal compliance learning to improve corporate governance.