China Research Institute: Wang Xiuyun reduced his holdings by 1.9825% in the past 9 months.

Announcement from InterResearch Corporation: From December 2, 2024 to September 8, 2025, shareholders Wang Xiuyun and Liu Guoliang collectively reduced their holdings of the company's shares by a total of 2,412,300 shares through centralized bidding, accounting for 1.9825% of the company's total share capital. After the reduction, Wang Xiuyun holds 3,279,000 shares, accounting for 2.6948%, and Liu Guoliang holds 2,805,000 shares, accounting for 2.3053%. The two individuals together hold 6,084,000 shares, accounting for 5.0000%.