Lezhi Holdings Group Co., Ltd. Announcement of the Resolution of the 10th Meeting of the 7th Board of Directors
This announcement and the resolutions of the Board of Directors are true, accurate, and complete, and do not contain any false records, misleading statements, or major omissions.
I. Meeting Notification, Convening, and Holding
The 10th meeting of the 7th Board of Directors of Lezhi Holdings Group Co., Ltd. (hereinafter referred to as the "Company") (hereinafter referred to as the "Meeting") was held at 4:00 PM on March 18, 2026, in the conference room on the 11th floor of Jianshe Technology Building, No. 62 Hubin South Road, Xiamen City. The meeting was convened and presided over by Mr. Cai Yongtai, Chairman of the Company. The meeting notice was delivered to all directors and senior management personnel via OA email, email, and fax on March 16, 2026. Nine directors were eligible to attend, and nine directors were present. The convening and holding of this meeting comply with the relevant provisions of the "Company Law of the People's Republic of China" and the "Articles of Association".
II. Meeting Resolutions
The meeting adopted a voting method of open ballot for the proposals, and the following resolutions were formed:
(I) The proposal "Proposal on Not Lowering the Conversion Price of 'Lezhi Convertible Bonds'" was deliberated and approved; the voting result was: 9 votes in favor, 0 votes against, and 0 abstentions.
The Board of Directors, comprehensively considering the Company's fundamental situation, stock price trends, market environment, and other factors, as well as confidence in the Company's long-term stable development, and taking into account the protection of the interests of all investors, the Board of Directors has decided not to lower the conversion price of "Lezhi Convertible Bonds" this time. Starting from March 19, 2026, if the Company's stock price triggers the downward adjustment clause of the "Lezhi Convertible Bonds" conversion price again, the Board of Directors will convene a meeting again to decide whether to exercise the right to lower the conversion price of "Lezhi Convertible Bonds".