Ning Shui Group: Several shareholders plan to reduce their stake in the company.

Ningshui Group Announcement: The company's controlling shareholder and its concerted action persons collectively hold 25.36% of the shares. Blue Ink Plan 7 plans to transfer 1.4 million shares through block trading, and Blue Ink Plan 8 will transfer its 800,000 shares to Yang Ming. After the transfer, Blue Ink Plan 8 will no longer hold any shares of the company. Shareholders Wang Zonghui, Zhao Shaoman, Xu Yun, and Wang Kaituo plan to reduce their shareholdings by no more than 1.1574 million shares, 0.4797 million shares, 0.4599 million shares, and 0.8821 million shares respectively through centralized bidding and block trading within 15 trading days after the announcement, and within three months. This reduction plan will not result in a change in the company's controlling shareholder or actual controller.