Macalline announced that from December 12 to December 16, 2025, Taobao Holdings and New Retail Fund reduced their holdings of the company's total H shares by 41.646,600 through centralized bidding, accounting for 0.96% of the company's total share capital. Among them, Taobao Holdings and the New Retail Fund reduced their holdings by 208.23,200 shares and 20.823,400 shares respectively. After this change in equity, the total shareholding ratio of Hangzhou Haoyue, the company's shareholder holding more than 5% of the shares, and its co-actors fell from 7.33% to 6.37%, hitting an integer multiple of 1%. In addition, Hangzhou Haoyue plans to reduce its holdings by no more than 131 million shares from December 25, 2025 to March 24, 2026, accounting for 3% of the total share capital. It has not yet begun to reduce its holdings. This change will not affect the company's controlling rights and operations.

Macalline announced that from December 12 to December 16, 2025, Taobao Holdings and New Retail Fund reduced their holdings of the company's total H shares by 41.646,600 through centralized bidding, accounting for 0.96% of the company's total share capital. Among them, Taobao Holdings and the New Retail Fund reduced their holdings by 208.23,200 shares and 20.823,400 shares respectively. After this change in equity, the total shareholding ratio of Hangzhou Haoyue, the company's shareholder holding more than 5% of the shares, and its co-actors fell from 7.33% to 6.37%, hitting an integer multiple of 1%. In addition, Hangzhou Haoyue plans to reduce its holdings by no more than 131 million shares from December 25, 2025 to March 24, 2026, accounting for 3% of the total share capital. It has not yet begun to reduce its holdings. This change will not affect the company's controlling rights and operations.