Imposing Technology: Stock trading experienced abnormal fluctuations with continued losses in the first quarter of 2026.

Qipai Technology announced that the closing price of the company's stock on June 30th to July 2nd, 2026 deviated by more than 30% for 3 consecutive trading days, indicating abnormal volatility. After self-examination, the company's daily operations are normal and there is no significant undisclosed information. The company is proceeding with the issuance of A-shares to specific entities through a simplified process, subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission. In 2025, the company had a revenue of 769 million yuan with a net loss of 75.384 million yuan; in the first quarter of 2026, the revenue was 223 million yuan with a net loss of 3.7246 million yuan, showing a small overall scale and still incurring losses. Additionally, the company's packaging business relies heavily on traditional packaging, facing risks from technological upgrade and market iteration.