Shoukai Corporation: Individual institutional shareholders are reducing their holdings and clearing their positions, which may pose a risk of a decline in stock prices.

On the evening of September 16, Shougang Shares announced that the closing price of the company's stock from September 3 to September 12 had deviated by a cumulative 100%, triggering a serious abnormal trading situation. The company had already issued a notice on September 13 regarding the abnormal trading and serious abnormal price fluctuations. On both September 15 and September 16, the stock price deviated by 20% for two consecutive trading days, meeting the criteria for abnormal trading as per the rules of the Shanghai Stock Exchange. According to the listing rules of the Shanghai Stock Exchange, if a listed company experiences significant abnormal trading, the stock and its derivatives may be suspended, and the company will be required to conduct an investigation before trading resumes after relevant disclosures are made. Shougang Shares stated that recent trading activities had shown significant increase in volume, turnover rate, number of shareholders, and some institutional shareholders had reduced their holdings or liquidated positions. There is a risk of a rapid decline in stock prices following a sudden surge. The company conducted a self-investigation and issued inquiries to its controlling shareholders and actual controllers, confirming that there were no undisclosed major events or important information as of the date of this announcement.