Xin Fengming: The proportion of equity held by the controlling shareholders and their concerted actors has been passively diluted to 54.58%.

The announcement from New Phoenix Broadcasting stated that from March 3rd to March 5th, 2026, a total of 41,778,449 shares were converted into shares for "Feng 21 Convertible Bond", increasing the company's total share capital to 1,665,665,246 shares. The total shareholding proportion of the controlling shareholder New Phoenix Broadcasting Holdings and its concerted parties has passively diluted from 55.99% to 54.58%, reaching a multiple of 5%. This equity change does not involve changes in shareholding quantity, tender offers, nor will it lead to changes in controlling shareholders and ultimate controllers. "Feng 21 Convertible Bond" is in the conversion period, and if there are subsequent changes in equity, the company will disclose them in accordance with regulations.