Shanghai Annoray Group Co., Ltd. Board of Directors
Explanation on the Fluctuation of Company Stock Price in the 20 Trading Days Prior to the First Announcement of This Transaction
Shanghai Annoray Group Co., Ltd. (hereinafter referred to as "the Company") plans to acquire 100% equity of Guangzhou Fengyun Information Technology Co., Ltd. by issuing shares and paying cash, and simultaneously issue shares to no more than 35 qualified specific investors to raise supporting funds (hereinafter referred to as "this Transaction").
In accordance with relevant laws and regulations, the Company's Board of Directors has conducted a self-inspection of the fluctuation of the Company's A-share stock price prior to its suspension, and the results are as follows: