Qin'an Group: Transfer of 5% of shares by controlling shareholder agreement to Rao Yiran completed registration.

Qinan Co., Ltd. announced that its controlling shareholder and actual controller, YUANMINGTANG, signed a "Stock Transfer Agreement" with Rao Yiran on November 11, 2025, transferring 21.9399 million shares of unrestricted tradable shares at a price of 13.8 yuan per share, with a total price of 303 million yuan. The transfer registration was completed on January 13, 2026, and Rao Yiran became a 5% shareholder. Previously, the company had acquired 99% of the equity of Yigao Optoelectronics held by Rao Yiran and other shareholders through its wholly-owned subsidiary Lulingshanxi. After the transfer, Rao Yiran is not allowed to dispose of the shares except for the agreed pledge during the performance commitment period and before the compensation is completed. This transfer does not involve a tender offer and does not affect the company's controlling rights.