HAILUN PIANO plans to exempt the lock-up commitment for indirect shareholding by directors and executives

On September 1, 2025, HAILUN PIANO announced its intention to waive the voluntary lock-up commitment for shares indirectly held by directors Chen Hailun, Chen Chaofeng, and Jin Haifen. Previously, the company's controlling shareholder signed a share transfer agreement with Quantuozhuodai, which will lead to a change in the actual controller, and the transfer involves indirect shareholding among the three individuals, restricted by their voluntary lock-up commitment. This waiver has been approved by the board of directors, the board of supervisors, and a special meeting of independent directors, and is subject to approval by the shareholders' meeting. The relevant commitments include the initial public offering and the additional lock-up period commitment in 2015, with some restrictions still being fulfilled. The waiver is beneficial for facilitating the transfer, does not affect the company's operations, and does not harm the rights and interests of minority shareholders