Xingmin ITS: Judicial auction of shares held by shareholders with more than 5% ownership failed to sell

Xingmin ITS announced that Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd., a shareholder holding more than 5% of the company's shares, will have 52 million unrestricted tradable shares auctioned off judicially. Previously, the auction for 40 million shares ended at 10:00 on August 29, 2025, with no bids and thus failed to sell. The auction for 12 million shares ended at 10:00 on September 8, 2025, also failing to sell due to no bids. Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd. is not the company's controlling shareholder or actual controller, and this matter will not lead to a change in the company's control nor will it affect the company's daily operations and management