According to a recent announcement, PAGODA GP (02411) has received a formal filing notification from the China Securities Regulatory Commission (CSRC) regarding its application for full circulation of H-shares. This notification, received on October 20, 2025, confirms that the company has completed the conversion of approximately 85.4486 million unlisted shares held by three shareholders into an equal number of H-shares on a one-to-one basis, as filed with the CSRC. These H-shares will be listed and traded on the main board of the Hong Kong Stock Exchange upon completion of the conversion and approval from the exchange. The notification is valid for 12 months from the date of CSRC approval, which was granted on October 17, 2025.