Ying Qian disposed of shares of MUYUAN via the conversion of convertible bonds held by Muyuan Industrial Group Co., Ltd. (a corporation controlled by her) on September 29, 2026. The transaction is not a direct secondary-market dealing; it resulted from the conversion of convertible bonds into A-shares.
Prior to the disposal, Ying Qian's long position in MUYUAN was 3.11 billion shares, representing 56.93%; following the disposal, the holding changed to 3.10 billion shares, with the long position ratio falling to 56.73%.