Anta's response to the acquisition of Puma: no comment; Li-Ning's response to the acquisition of Puma: no substantive negotiations have been conducted on the transaction.

Recently, there have been market reports that the Pinault family is considering strategic options for the German sportswear brand Puma, including selling it. The Pinault family is working with advisors and contacting potential buyers including Anta and Li-Ning, as well as exploring the interest of other American sportswear companies and Middle Eastern sovereign wealth funds. Anta responded to Blue Whale News saying: "We do not comment on market rumors." Li-Ning responded that the company adheres to its core development strategy of "single brand, multiple categories, multiple channels" and will continue to focus on the growth and development of the Li-Ning brand. As of now, the company has not engaged in any substantive negotiations or evaluations related to the mentioned rumors. Please rely on official announcements from the company for any significant information.