Red Star Development: Several high-level directors plan to reduce their holdings by no more than 56,325 shares starting from March 30th.

Red Star Development announced that the chairman Wan Yang and 6 other directors and senior management personnel plan to reduce their holdings through centralized bidding from March 30th to June 29th due to personal financial needs, totaling up to 56,325 shares, about 0.0165% of the total shares of the company. The reduction price will be determined based on market prices, and if there are any changes such as bonus issues during the reduction period, the reduction quantity will be adjusted accordingly. This reduction will not have a significant impact on the company's governance and operation.