Ningbo Yunsheng announced that the company recently received a decision from the Ningbo Regulatory Bureau of the China Securities Regulatory Commission regarding the warning letter measures against Ningbo Yunsheng Co., Ltd. and Ji Li. Upon investigation, the company repurchased a total of 3.7879 million shares for Stock-based Incentive from April 30, 2020, to June 8, 2020, but did not timely cancel the corresponding shares and disclose the relevant information as required, and only canceled and disclosed the announcement for the expired 0.843 million shares of the repurchased shares on November 15, 2024. The company's behavior violated the relevant provisions of the "Rules on Share Buyback by Listed Companies" and the "Administrative Measures for Information Disclosure of Listed Companies." Ji Li, as the secretary of the Board of Directors at that time, bore primary responsibility for the company's violations. The Ningbo Regulatory Bureau decided to impose administrative supervision measures by issuing a warning letter to the company and Ji Li, and recorded it in the integrity files of the securities and futures market. The company and relevant personnel attach great importance to this matter, will earnestly learn from the lessons, and actively implement rectification.