General Shares: Shareholder Red Bean Group, holding more than 5%, has been subject to administrative regulatory measures

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General Shares Corporation Announcement: The shareholder holding more than 5%, Hongdou Group Co., Ltd., received a warning letter issued by the Jiangsu Securities Regulatory Bureau of the China Securities Regulatory Commission because it failed to promptly inform the company of the pledge and freezing status of the company shares it holds and cooperated with information disclosure. As the company’s original controlling shareholder, Hongdou Group held 657 million shares of the company as of August 19, 2024, representing 41.35% of the total issued share capital. On August 19, 2024, an additional 110 million shares were pledged, accounting for 6.92% of the total issued share capital; on September 11, 2024, an additional 15.16 million shares were pledged, accounting for 0.96% of the total issued share capital. As of February 14, 2025, a total of 112 million shares were cumulatively frozen, representing 7.04% of the total issued share capital.

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