Qunxing Toys: The first largest shareholder's partial shares have been judicially auctioned multiple times without success.

Qunxing Toys announced that the Intermediate People's Court of Suzhou City, Jiangsu Province has started to auction 32 million shares held by the largest shareholder Shenzhen Xinghe on May 14, 2026. As of May 17, two auctions totaling 6.4 million shares have been unsuccessful due to no bids, with a total of 9.6 million shares failing to sell, and Shenzhen Xinghe's shareholding has not changed. It is uncertain whether the failed shares will be auctioned again or the judicial procedure, but it has no significant impact on the company's operation and governance for now. The company will disclose any updates in a timely manner.