I. Situation Overview
According to the report issued by Beijing Xinghua Certified Public Accountants (Special General Partnership), the total assets of Beijing Kingee Culture Development Co., Ltd. as of December 31, 2025, are approximately 6,723,406,989 yuan, and the company's uncompensated losses amount to 2,659,378,615 yuan. The company's uncompensated losses exceed one-third of the paid-in capital. Based on the Company Law and relevant regulations, this matter requires submission to the 2025 annual general meeting for approval.