Progress Announcement on Joint Capital Increase for Acquisition of 91.2% Equity in Zhengzhou Heying

Overview of the Transaction

On March 20, 2026, Henan YN Holding Co., Ltd. (hereinafter referred to as "the Company" or "YN Holding") held the 33rd meeting of the 9th Board of Directors, approving the proposal for joint investment with its controlling shareholder, Henan Investment Group Co., Ltd. (hereinafter referred to as "Henan Investment Group"). YN Holding plans to increase its capital by RMB 1.1 billion, while Henan Investment Group intends to increase its capital by RMB 1.4 billion (hereinafter referred to as "this capital increase"). At the same time, the joint venture, Xiantian Calculation (Henan) Technology Co., Ltd. (hereinafter referred to as "Xiantian Calculation"), intends to acquire a total of 91.2% equity in Zhengzhou Heying Data Co., Ltd. (hereinafter referred to as "Zhengzhou Heying" or "the target company") for a transaction price of RMB 9.41184 billion, with Xiantian Calculation acquiring no less than 55% of Zhengzhou Heying's total equity (hereinafter referred to as "this acquisition," collectively referred to as "this transaction" with this capital increase). After the completion of this transaction, the controlling shareholder of the Company, Henan Investment Group, will still hold 57.71% of Xiantian Calculation, while the Company will become a minority shareholder with a 42.29% stake, and Xiantian Calculation will hold a controlling interest in Zhengzhou Heying. For specific details, please refer to the Company's announcements on February 11, 2026, and March 21, 2026, disclosed on the Giant Tide Information Network (www.cninfo.com.cn).

Progress of the Transaction

1. As of the date of this announcement, the State Administration for Market Regulation has issued the "Decision on Not Implementing Further Review of Concentration of Operators" (Antitrust Decision [2026] No. 176), deciding not to conduct further review of this transaction, which can be implemented from the date of the decision.
2. As of the date of this announcement, the counterparty has injected the target assets into Zhengzhou Heying as per the transaction agreement.
3. As of the date of this announcement, Xiantian Calculation has completed the industrial and commercial change registration, and the equity structure is as follows: