Zhangjiang Hi-Tech Park controlling shareholder reduces stake below 49%

Shanghai Zhangjiang (Group) Co., Ltd., the controlling shareholder of Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. (referred to as "the Company"), has reduced its shareholding from 49.75% to 48.75% of the Company's total share capital. This 1% change in equity occurred through centralized competitive bidding transactions between December 17 and December 26, 2025.

During this period, Zhangjiang Group sold 15,486,836 shares from its non-publicly traded shares, representing 1% of the Company's total share capital. Consequently, Zhangjiang Group's total holdings in the Company decreased from 770,549,743 shares to 755,062,907 shares. Following this reduction, Zhangjiang Group still retains 161,950 non-publicly traded shares.

The Company states this equity change will not alter the controlling shareholder or actual controller, nor will it significantly impact the Company's governance structure or ongoing operations. The transaction adheres to relevant regulations regarding shareholder reductions and does not trigger a mandatory tender offer.