Jointown: The holding subsidiary participates in the establishment of an industrial fund, holding a 7.14% share

Jointown announced that its holding subsidiary, Beijing Jiuzhou Zhongchuang Technology Incubator Co., Ltd., has committed to invest 10 million yuan as a limited partner in the establishment of Wuhan Chuchang Tongda Industrial Investment Fund Partnership, accounting for 7.14% of the total committed capital of the industrial fund. The executive partner of the industrial fund is Beijing Chuchang Private Fund Management Co., Ltd., and the limited partner is Beijing Diangin Investment Co., Ltd., both of which are subordinate holding enterprises of the company's controlling shareholder, Chuchang Investment Group Co., Ltd. Additionally, Beijing Diangin is a major shareholder holding more than 5% of the company's shares. Therefore, this joint investment constitutes a related party transaction but does not constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies."