On 29 March 2025, Jointown disclosed the Informative Announcement on the Proposed Partial Release of Guarantees and Trust Registration for Non-public Offering of Exchangeable Corporate Bonds by the Controlling Shareholder in 2022. According to the provisions of the prospectus for the exchangeable bonds, Chuchang Investment plans to soon apply for the partial release of the guarantee and trust registration in the guarantee and trust property special accounts of the 22 Chu EB01, 22 Chu EB02, and 22 Chu EB03 exchangeable bonds. After the partial release of the guarantee and trust registration is completed, a total of 33,500,000 shares in the guarantee and trust property special accounts will be transferred back to Chuchang Investment's securities account. Chuchang Investment will hold 362,525,962 shares of the company (excluding shares held in the guarantee and trust property special accounts), representing a holding ratio of 7.19%. The "Chuchang Group - HuaYing Securities - 22 Chuchang EB01 Guarantee and Trust Property Special Account" will hold 55,673,034 shares of the company, representing a holding ratio of 1.10%. The "Chuchang Group - HuaYing Securities - 22 Chuchang EB02 Guarantee and Trust Property Special Account" will hold 23,844,513 shares, representing a holding ratio of 0.47%. The "Chuchang Group - HuaYing Securities - 22 Chuchang EB03 Guarantee and Trust Property Special Account" will hold 55,947,665 shares, representing a holding ratio of 1.11%. After the completion of the partial release of the guarantee and trust registration, there will be no change in the company's controlling shareholders or actual controllers, and it does not constitute a tender offer.

For more details, please refer to No. L 2025-015 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/2025-03-29/600998_20250329_AOQW.pdf