On March 26, 2025, Jointown disclosed the Announcement on Early Release of Share Pledge and Pledge of Shares by Controlling Shareholders and their Persons Acting in Concert. The controlling shareholder, Chuchang Investment Group Co., Ltd. (hereinafter referred to as Chuchang Investment), completed the release formalities for 78,432,000 pledged shares, and pledge formalities for 105,980,000 shares. The person acting in concert of Chuchang Investment, Zhongshan Guangyin Investment Co., Ltd., completed the release formalities for 49,020,000 pledged shares, and pledge formalities for 49,020,000 shares. And Shanghai Hongkang Industrial Investment Co., Ltd., the person acting in concert of Chuchang Investment, completed the release formalities of 9,000,000 pledged shares. After that, the total pledged shares of the controlling shareholders and their persons acting in concert was 1,349,144,926, accounted for 57.92% of all shares in Jointown held by them, and 26.76% of total shares of Jointown.

For more details, please refer to No. L 2025-014 Announcement in Chinese disclosed at the official website of Shanghai Stock Exchange (www.sse.com.cn).

(The Chinese version shall prevail if there is any discrepancy between the English version and the Chinese version.)

For more information, please download:

https://static.sse.com.cn/disclosure/listedinfo/announcement/c/new/2025-03-26/600998_20250326_0857.pdf