According to the Treasure Island announcement, the company received a notice from the controlling shareholder Chuangda Group that the “23 Innovation 01EB” exchange price of its first payable bond in 2023 will be adjusted. The bond was issued on a scale of 910 million yuan for a period of 3 years. Since November 14 to December 25, 2025, the closing price of the underlying stock was lower than 10 yuan/share for 10 consecutive trading days out of 30 consecutive trading days during the exchange period, triggering an automatic reduction in the exchange price clause. The share exchange price will automatically be lowered from 10.50 yuan/share to 8.80 yuan/share, effective December 30, 2025. After the downgrade, the number of shares to be exchanged still satisfies all share exchange requirements.

According to the Treasure Island announcement, the company received a notice from the controlling shareholder Chuangda Group that the “23 Innovation 01EB” exchange price of its first payable bond in 2023 will be adjusted. The bond was issued on a scale of 910 million yuan for a period of 3 years. Since November 14 to December 25, 2025, the closing price of the underlying stock was lower than 10 yuan/share for 10 consecutive trading days out of 30 consecutive trading days during the exchange period, triggering an automatic reduction in the exchange price clause. The share exchange price will automatically be lowered from 10.50 yuan/share to 8.80 yuan/share, effective December 30, 2025. After the downgrade, the number of shares to be exchanged still satisfies all share exchange requirements.