Announcement on the Expiration of Shareholder Reduction Plan and Implementation Status

Hanzhou Chuchu Technology Co., Ltd. (hereinafter referred to as "the Company") disclosed the "Pre-disclosure Announcement on Shareholder Share Reduction" (Announcement No.: 2025-050) on September 20, 2025. The shareholder, Zhejiang Chuchu Equity Investment Partnership (Limited Partnership) (formerly known as Anji Zhejiang Chuchu Equity Investment Partnership (Limited Partnership), hereinafter referred to as "Zhejiang Chuchu Investment"), holding 4,018,578 shares of the Company (accounting for 5.03% of the total share capital after excluding shares in the Company's repurchased special securities account), planned to reduce its holdings by no more than 2,395,605 shares (accounting for 3% of the total share capital after excluding shares in the Company's repurchased special securities account) within three months starting from 15 trading days after the pre-disclosure announcement (i.e., from October 21, 2025, to January 20, 2026) through centralized bidding and block trading. Among these, the number of shares to be reduced through centralized bidding shall not exceed 798,535 shares (i.e., not exceeding 1% of the total share capital after excluding shares in the Company's repurchased special securities account), and the number of shares to be reduced through block trading shall not exceed 1,597,070 shares (i.e., not exceeding 2% of the total share capital after excluding shares in the Company's repurchased special securities account). If there are changes in shares due to dividends, stock distributions, or capital increases during the reduction period, the number of shares to be reduced will be adjusted accordingly, but the proportion of the reduced shares to the total share capital after excluding shares in the Company's repurchased special securities account will remain unchanged. The Company recently received a notice from Zhejiang Chuchu Investment regarding the expiration of the share reduction plan. As of January