Black Peony announced that the 13th meeting of the 10th board of directors of the company reviewed and passed the share transfer bill between wholly-owned subsidiaries. Black Peony Development Co., Ltd. will transfer 12.2093% of the shares held in Peony Huidu and 1.1860% of the shares held by Changzhou Dahui Construction Co., Ltd. at a price of 96.8046 million yuan and 9.4035 million yuan, respectively, to Black Peony Real Estate. After the transfer is completed, Black Peony Real Estate will hold 100% of Peony Huidu's shares. This transfer is an internal adjustment, does not affect the scope of consolidated statements, does not constitute a related transaction or major asset restructuring, and has no significant impact on financial and operating results.

Black Peony announced that the 13th meeting of the 10th board of directors of the company reviewed and passed the share transfer bill between wholly-owned subsidiaries. Black Peony Development Co., Ltd. will transfer 12.2093% of the shares held in Peony Huidu and 1.1860% of the shares held by Changzhou Dahui Construction Co., Ltd. at a price of 96.8046 million yuan and 9.4035 million yuan, respectively, to Black Peony Real Estate. After the transfer is completed, Black Peony Real Estate will hold 100% of Peony Huidu's shares. This transfer is an internal adjustment, does not affect the scope of consolidated statements, does not constitute a related transaction or major asset restructuring, and has no significant impact on financial and operating results.