Ruifeng Gaocai: Shareholder Sangpeizhou, who holds more than 5% of the shares, has reduced his shareholding to less than 5%.

Ruifeng Gao Cai announced that shareholder Sang Peizhou's shareholding has dropped to below 5% due to passive changes and active reductions. As of November 3, he holds 12,521,240 shares of the company, accounting for 4.999966% of the total share capital, and is no longer a shareholder with more than 5% ownership. From October 28 to November 3, Sang Peizhou has sold a total of 490,000 shares through centralized bidding, accounting for 0.1957% of the total share capital, with an average selling price of 11.24 yuan per share. This change did not complete the planned reduction, and will not affect the company's governance and operations.