Jingxing Paper Industry: The shareholding proportion of shareholders holding more than 5% of the shares has been passively diluted to 12.93%.

Jingxing Paper Co., Ltd. announcement: due to the conversion of "Jingxing Convertible Bonds" into shares, the total share capital of the company has increased. Mr. Zhu Zailong, a shareholder with more than 5% ownership, the actual controlling shareholder, and the chairman of the board, while maintaining the same number of shares, the proportion of their holdings has been passively diluted from 13.25% to 12.93%. The passive dilution change has reached a multiple of 1%. This change in equity will not result in a change in the company's controlling interest, and it will not affect the company's governance structure or continuous operation.