On July 23rd, Glory Time (06820.HK) announced that the board of directors was informed by Mr. Jiang Xiaohuang (executive director, chairman of the board and controlling shareholder of the company) that Eternal Heart Holdings Limited (“Eternal Heart”) accumulated 4.086 million shares of the company's stock through open market purchases from July 12th to 18th, 2024, accounting for approximately 0.19% of the total issued share capital of the company as of the date of this announcement.

Following the purchase of shares, the number of shares held by Eternal Heart increased from 937,688,116 to 941,774,116. Following the purchase of shares, the number of shares held by Mr. Jiang increased from 1,282,516,500 to 1,286,602,500, accounting for approximately 59.00% of the total issued share capital of the company as of the date of this announcement. The board of directors believes that the purchase of shares demonstrates the controlling shareholder's confidence in the company's long-term development and prospects.