: Xu Xun and Zhao Shengkai collectively reduced their stake in the company by 1.11%.

Announcement from Jiaotong University Sunuo: Shareholders Xu Xun and Zhao Shengkai, who hold more than 5% of the company's shares, have completed their reduction plans. Xu Xun reduced his holdings by a total of 584,800 shares of the company from May 8 to May 12, 2025, through centralized bidding, accounting for 0.67% of the company's total share capital. After the reduction, his shareholding percentage decreased from 11.83% to 11.16%. During the same period, Zhao Shengkai reduced his holdings by a total of 379,800 shares of the company, accounting for 0.44% of the company's total share capital. After the reduction, his shareholding percentage decreased from 6% to 5.57%. The implementation of this reduction plan will not lead to changes in the company's control, nor will it have any impact on the company's governance structure and continued operations.