Change of Authorized Share Capital and Share Consolidation

IT WAS RESOLVED BY AN ORDINARY RESOLUTION THAT every two (2) issued and unissued ordinary shares of a nominal or par value of US$0.0001 each in the capital of the Company be consolidated into one (1) share of a nominal or par value of US$0.0002 each (each a “Consolidated Share”), and such Consolidated Shares shall rank pari passu in all respects with each other in accordance with the Company's currently effective memorandum and articles of association (the “Share Consolidation”) such that following the Share Consolidation the authorized share capital of the Company will be changed (the “Change of Authorized Share Capital”) from US$50,000 divided into 500,000,000 shares of a nominal or par value of US$0.0001 each, to US$50,000 divided into 250,000,000 shares of a nominal or par value of US$0.0002 each, and no fractional shares be issued in connection with the Share Consolidation.

Voting Results of the 2024 Annual General Meeting

A total of 137,767,764 ordinary shares (including ordinary shares represented by ADSs), representing 77.9% of all issued and outstanding shares of the Company as of the record date, were present at the meeting in person or by proxy. The voting results are as follows:

For Against Abstain

The Share Consolidation will become effective on December 6, 2024. Concurrently on the same day, a change in the ADS ratio proportionate to the Share Consolidation will take effect.