Asia United Development: The frozen assets of the controlling shareholder exceed 10 million yuan, part of which will be released.

Asia United Development announced that the 52.26 million shares held by the company's controlling shareholder, Zhili Development, were previously frozen. In the case of a financial loan dispute with the Dalian Branch of Bank of Communications and related parties, the Bank of Communications has changed Zhili Development's joint liability lawsuit request to a joint guarantee liability of 10 million yuan. The court ruled to lift the freeze on the portion of Zhili Development's frozen assets exceeding 10 million yuan. As of March 25, the 52.26 million shares held by Zhili Development in the company are still under judicial re-freeze, which currently does not result in a change in the company's actual control and will not have a significant impact on the company's production, operation, and governance.