Zhang Xiaoquan announced that on December 17, 2025, the company learned through the National Enterprise Bankruptcy and Reorganization Case Information Network that the manager of the merger and restructuring case of Fuchun Holding Group Co., Ltd. and its affiliated companies issued the “Zhang Xiaoquan Group Reorganization Investor Recruitment Notice for the Merger and Reorganization Case of Fuchun Holdings and its Affiliates”. The manager of the merger and restructuring case of Fuchun Holding Group and its affiliated companies initiated the recruitment of investors for Zhang Xiaoquan Group's restructuring in accordance with the “Property Management Plan” approved by the first creditor meeting and after review by the creditor committee. The intended investor shall pay a registration deposit of 10 million yuan to the manager at the time of registration. Failure to pay the registration deposit on time shall be considered a withdrawal of the return. The manager will review the application form and notify the registered investors of the review results via the manager's email. If the formal review is approved, the registration is successful; if the submitted registration materials are missing or omitted, the manager will notify the correction and give a 3-day correction period. After completing registration, interested investors can carry out due diligence work on Zhang Xiaoquan Group on their own or by entrusting intermediaries. The manager and Zhang Xiaoquan Group will provide necessary cooperation and relevant information. The intended investor is responsible for the expenses required to carry out due diligence or site visits by the intended investor.

Zhang Xiaoquan announced that on December 17, 2025, the company learned through the National Enterprise Bankruptcy and Reorganization Case Information Network that the manager of the merger and restructuring case of Fuchun Holding Group Co., Ltd. and its affiliated companies issued the “Zhang Xiaoquan Group Reorganization Investor Recruitment Notice for the Merger and Reorganization Case of Fuchun Holdings and its Affiliates”. The manager of the merger and restructuring case of Fuchun Holding Group and its affiliated companies initiated the recruitment of investors for Zhang Xiaoquan Group's restructuring in accordance with the “Property Management Plan” approved by the first creditor meeting and after review by the creditor committee. The intended investor shall pay a registration deposit of 10 million yuan to the manager at the time of registration. Failure to pay the registration deposit on time shall be considered a withdrawal of the return. The manager will review the application form and notify the registered investors of the review results via the manager's email. If the formal review is approved, the registration is successful; if the submitted registration materials are missing or omitted, the manager will notify the correction and give a 3-day correction period. After completing registration, interested investors can carry out due diligence work on Zhang Xiaoquan Group on their own or by entrusting intermediaries. The manager and Zhang Xiaoquan Group will provide necessary cooperation and relevant information. The intended investor is responsible for the expenses required to carry out due diligence or site visits by the intended investor.