ST Mubang: The actual controller is suspected of not disclosing non-operating fund transactions as required and has been filed for investigation.

*ST Mubang Announcement: Mr. Liao Zhiyuan, the actual controller of the company, received a "Notice of Filing" from the China Securities Regulatory Commission on September 29, 2025. Due to Mr. Liao Zhiyuan's alleged failure to disclose non-operating fund transactions as required, the China Securities Regulatory Commission has decided to file a case against him. The company will actively cooperate with the relevant work and fulfill its disclosure obligations.*