Indicative Announcement Regarding the Passive Increase in Shareholding Ratio of the Actual Controller's Persons Acting in Concert Reaching an Integer Multiple of 1%
Special Notice:
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This change in equity is caused by Zheshang Group Co., Ltd. (hereinafter "the Company") repurchasing shares, which resulted in a change to the total share capital after excluding shares in the dedicated securities repurchase account. The total share capital after excluding shares in the dedicated securities repurchase account changed from 506,913,562 shares to 499,358,562 shares, leading to a passive increase in the aggregate shareholding ratio of the actual controller's persons acting in concert (calculated based on the total share capital after excluding shares in the dedicated securities repurchase account, same below). The actual controller's persons acting in concert hold a total of 229,910,441 shares of the Company, with their shareholding ratio increasing from 45.35% to 46.04%, passively reaching an integer multiple of 1%.
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This change in equity does not involve a change in the number of shares held by the aforementioned shareholders, does not trigger a tender offer, and will not lead to a change in the Company's controlling shareholder or actual controller, nor will it have a material impact on the Company's equity structure or continuous operations.
I. Basic Situation of the Equity Change
On June 10, 2026, the Company held the 19th meeting of the 5th Board of Directors, where the "Proposal on the Share Repurchase Plan" was reviewed and approved. The Company agreed to use its own funds to repurchase a portion of the Company's issued RMB ordinary shares (A shares) through centralized bidding transactions for the implementation of an equity incentive plan or employee stock ownership plan. The total amount of funds for this share repurchase is not less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive), with a repurchase price not exceeding RMB 13.20 per share (inclusive). The implementation period for the share repurchase is within 12 months from the date the Company's Board of Directors reviewed and approved the share repurchase plan. For details, please refer to the "Announcement on the Share Repurchase Plan and Repurchase Report" (Announcement No.: 2026-023) disclosed by the Company on June 11, 2026, in the "Securities Times," "Securities Daily," and on the Cninfo website.