Important Statement
This report is prepared by the bond trustee, GF Securities Co., Ltd. (hereinafter referred to as "GF Securities"), based on the "Management Measures for Convertible Corporate Bonds," the "Trustee Management Agreement" between Lingnan Ecological Culture and Tourism Co., Ltd. and GF Securities, and other related public disclosure documents. GF Securities has not independently verified the contents and information quoted from these documents and does not guarantee their authenticity, accuracy, or completeness. This report does not constitute a recommendation for investors to take or refrain from any action; investors should make independent judgments regarding related matters.