Tranche Update on Shanghai DOBE Cultural & Creative Industry DevelopmentCo. LTD.'s Equity Buyback Plan announced on November 22, 2023.

Shanghai DOBE Cultural & Creative Industry Development Group Co Ltd is a China-based company mainly engaged in the positioning, design, transformation, investment promotion and operation management of cultural and creative industry parks. The Company mainly adopts the business model of lease operation and mainly provides leasing services, membership services and other services to cultural, scientific and technological innovation enterprises in the park. The Company re-positions and designs the space by leasing; remodels supporting hardware facilities, reshapes the architectural style and image, and improves the supporting service functions of the park; and provides services for cultural, scientific and technological innovation enterprises through investment promotion and subsequent operation management. The Company conducts its businesses within the China market and to overseas markets.