According to the announcement from BEIJING JIAYE (02210), due to the failure to meet the exercise conditions, the initially granted 3.42 million stock appreciation rights (including 370,000 stock appreciation rights held by three disqualified incentive recipients) and the reserved 400,000 stock appreciation rights will be canceled. After the cancellation, 3.42 million out of a total of 3.82 million stock appreciation rights will become invalid and cannot be exercised.

The company expects that the current cancellation of stock appreciation rights will not have any significant impact on the company's financial condition and operating performance, nor will it affect the diligence of the company's management team. The management team will continue to work diligently and strive to create value for shareholders