PNC announced that its controlling shareholder Jiang Yuan and his concerted actors Lu Longying and Gongqingcheng Shangchun Technology Industry Investment Partnership have triggered a 1% threshold for equity changes. On September 25, Jiang Yuan reduced his holdings by 627,840 shares through centralized bidding and 3.64 million shares through block trading. The combined shareholding ratio of the three decreased from 29.77% to 28.65%. This equity change is part of the disclosed reduction plan, does not trigger a mandatory bid, does not affect the controlling shareholder and actual controller, and does not impact the company's governance and operations. As of the announcement date, the reduction plan has not been fully implemented, and the company will urge the information disclosure obligors to disclose in accordance with regulations