Haitong Development: Application for the issuance of stocks to specific entities approved by the Shanghai Stock Exchange.

Haitong Development announced that on November 11, 2025, the company received the review opinion issued by the Shanghai Stock Exchange, stating that its application to issue shares to specific targets meets the requirements for issuance, listing, and information disclosure. This matter still needs to be approved by the China Securities Regulatory Commission before it can be implemented. There is uncertainty about whether approval for registration will be obtained and the timeline for it. The company will promptly disclose any progress in accordance with regulations.