Reddick announced that Shen Renrong, the actual controller, chairman and general manager of the company, received the “Decision to Withdraw Bail Awaiting Trial” issued by the Hangzhou Municipal Public Security Bureau on July 20, 2026. The matters involved were the same insider trading case where they were administratively punished by the Zhejiang Supervisory Authority in 2022, and had nothing to do with the company. Currently, Shen Renrong is able to perform his duties normally, and the company's production and operation are normal. The company will continue to monitor the progress and disclose it in a timely manner.

Reddick announced that Shen Renrong, the actual controller, chairman and general manager of the company, received the “Decision to Withdraw Bail Awaiting Trial” issued by the Hangzhou Municipal Public Security Bureau on July 20, 2026. The matters involved were the same insider trading case where they were administratively punished by the Zhejiang Supervisory Authority in 2022, and had nothing to do with the company. Currently, Shen Renrong is able to perform his duties normally, and the company's production and operation are normal. The company will continue to monitor the progress and disclose it in a timely manner.