Shanghai Securities Regulatory Bureau reported on the phase investigation progress of Zhuoran Co., Ltd.

On December 16, 2025, our bureau launched an investigation into Shanghai Zhuoran Engineering Technology Co., Ltd. It has been initially found that some of the annual financial information disclosed by Zhuoran may involve false records and could lead to significant violations warranting mandatory delisting. The case is currently under investigation, and our bureau will promptly ascertain the facts of the violations and handle them seriously in accordance with the law.