Glory Health Industry Ltd. has released a quarterly update addressing the disclaimer of opinion issued by its auditors for the year ended December 31, 2024. The auditors' disclaimer was primarily due to concerns that the Group might not be able to realize its assets and settle its liabilities in the ordinary course of business. As of the latest update, the Group has secured an extension approval for a RMB1.314 billion loan from Bank of Tianjin. Restructuring negotiations with other financial institutions and creditors are ongoing. Several projects, including the overall transfer of the Shenyang company, the Foshan Shengpingli project, and the property sales project of Beijing North Fifth Building, remain in the stage of seeking buyers and conducting negotiations. During the fourth quarter of 2025, the Hainan Yunlong Property project was also still seeking buyers. The Group stated that the completion of these transactions is expected to ease its liquidity issues and significantly reduce its total debt. Additionally, the Group is continuing its applications to government authorities for the return of land for the Shenyang and Chongming Island projects. The company will issue further announcements regarding significant developments as appropriate.

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