Royal Courtyard International: Still negotiating with relevant parties on the solution of stock repurchase.

Huangting International announcement, the company's wholly-owned subsidiary Ruihao Zhixin holds 27.8145% of the equity of Yifagongli, and through a concerted action agreement and repurchase agreement, the company's voting rights percentage in Yifagongli have cumulative reached 85.5629%. Yifagongli has been included in the company's consolidated financial statements. Due to the company's core assets being used to pay off debts through judicial decisions, and the involvement of litigation in partially borrowing funds, resulting in a large amount of financial expenses, which has caused financial strain, the company is currently unable to fulfill its obligation to repurchase the equity of Yifagongli. The company is actively communicating and negotiating with relevant parties to find a solution.