Shanghai Phoenix announced that the company held a board meeting on July 29, 2026 to review and pass a bill to repurchase B-shares through centralized bidding transactions, which still needs to be reviewed by the shareholders' meeting. The estimated repurchase amount is 117 million to 195 million yuan, and the number of repurchases is 30 million to 50 million shares, accounting for 6.06%-10.10% of the total share capital. The repurchase price will not exceed 0.575 US dollars/share. The repurchase of shares will be used to cancel and reduce the registered capital. As of the date of disclosure of the announcement, the relevant entities had no plans to reduce their holdings within the next 6 months. There is a risk that this repurchase will not be implemented or partially implemented.

Shanghai Phoenix announced that the company held a board meeting on July 29, 2026 to review and pass a bill to repurchase B-shares through centralized bidding transactions, which still needs to be reviewed by the shareholders' meeting. The estimated repurchase amount is 117 million to 195 million yuan, and the number of repurchases is 30 million to 50 million shares, accounting for 6.06%-10.10% of the total share capital. The repurchase price will not exceed 0.575 US dollars/share. The repurchase of shares will be used to cancel and reduce the registered capital. As of the announcement disclosure date, the relevant entities had no plans to reduce their holdings within the next 6 months. There is a risk that this repurchase will not be implemented or partially implemented.