KAIRUIDE: Some shares of the controlling shareholder have been judicially frozen

KAIRUIDE announced that part of the shares held by its controlling shareholder Wang Jian has been judicially frozen. This freeze is divided into two parts: first, 9.2146 million shares, accounting for 12.10% of his holdings and 2.51% of the company's total share capital; second, 26.24 million shares, accounting for 34.45% of his holdings and 7.14% of the company's total share capital. The total frozen shares amount to 35.4546 million shares, accounting for 46.54% of his holdings and 9.64% of the company's total share capital. Mr. Wang Jian is actively and properly handling the related matters, and currently, there is no risk of forced liquidation of the shares, nor will it affect the company's production operations and corporate governance