Basic Situation of the Judicial Transfer of Shares
Based on the enforcement of the effective legal documents, including the Civil Ruling No. (2021) E 08 Min Po 1 from the Jingmen Intermediate People's Court, and the implementation of the restructuring plan approved by the creditors' meeting (including the investors' group) on December 6, 2021, 51.5 million shares (accounting for 14.01% of the company's total share capital) are to be transferred judicially to Ningbo Gede Yingxiang Trading Co., Ltd. (hereinafter referred to as "Ningbo Gede") at a transfer price of RMB 297.67 million. For specific details of this judicial transfer of shares, please refer to the company's announcement titled "Notice on the Judicial Transfer