Shanghai Shangyuan Cultural Tourism Development Co., Ltd.: The controlling shareholder's unified action person will auction off 106 million shares.

Shangyuan Culture and Tourism announced that the company has received a notice from the Shaoxing Court that from 10:00 on July 15, 2026 to 10:00 on July 16, 2026, the controlling shareholder Anhui Shangyuan, a concerted action person, will publicly auction 1.06 billion shares of the company's stock held by them, accounting for 48.66% of the total shares held by them and 10.00% of the total share capital of the company, through the judicial auction network platform of Taobao. The starting price will be determined by multiplying the average closing price of the stock for the 20 trading days before July 15, 2026 by the quantity of the stock being auctioned. This judicial auction will not result in a change of control of the company and will have no adverse impact on production operation or corporate governance. The outcome of the auction is uncertain and the company will closely monitor and disclose information promptly.