Lion Head Co., Ltd. announced that it plans to issue shares and pay cash, purchase 97.4399% of Hangzhou Lipo Technology Co., Ltd., held by 14 counterparties including Wang Xulongqi and Deng Haoyu, and issue shares to Chongqing Yiyuan and Yicheng Enterprise Management Company to raise capital. The merger, acquisition and restructuring review committee of the Shanghai Stock Exchange is scheduled to hold a meeting on July 24, 2026 to review the transaction application. The transaction has yet to be reviewed and approved by the Shanghai Stock Exchange and registered by the Securities Regulatory Commission. It is uncertain whether it will be approved or when.

Lion Head Co., Ltd. announced that it plans to issue shares and pay cash, purchase 97.4399% of Hangzhou Lipo Technology Co., Ltd., held by 14 counterparties including Wang Xulongqi and Deng Haoyu, and issue shares to Chongqing Yiyuan and Yicheng Enterprise Management Company to raise capital. The merger, acquisition and restructuring review committee of the Shanghai Stock Exchange is scheduled to hold a meeting on July 24, 2026 to review the transaction application. The transaction has yet to be reviewed and approved by the Shanghai Stock Exchange and registered by the Securities Regulatory Commission. It is uncertain whether it will be approved or when.