Zhitong Finance App News, Xiangcai Co., Ltd. (600095.SH) issued an announcement. The company's subsidiary, Xiangcai Securities Co., Ltd. (hereinafter referred to as “Xiangcai Securities”), was filed by the China Securities Regulatory Commission on July 31, 2026 for allegedly violating the provisions of the “Administrative Measures on Securities Brokerage Business” relating to the real-name account system, etc. On November 11, 2026, the subsidiary Xiangcai Securities received the Hunan Securities Regulatory Bureau's “Administrative Penalty Decision” ([2026] No. 16) and “Administrative Supervision Measures Decision” ([2026] No. 47 and No. 48). Among them, the main contents of the “Administrative Penalty Decision” are as follows:

Zhitong Finance App News, Xiangcai Co., Ltd. (600095.SH) issued an announcement. The company's subsidiary, Xiangcai Securities Co., Ltd. (hereinafter referred to as “Xiangcai Securities”), was filed by the China Securities Regulatory Commission on July 31, 2026 for allegedly violating the “Measures for the Administration of Securities Brokerage Business” relating to the real-name account system, etc. On November 11, 2026, the subsidiary Xiangcai Securities received the Hunan Securities Regulatory Bureau's “Administrative Penalty Decision” ([2026] No. 16) and “Administrative Supervision Measures Decision” ([2026] No. 47 and No. 48). Among them, the main contents of the “Administrative Penalty Decision” are as follows: