Item 4 — Purpose of Transaction
On July 27, 2026, the Issuer issued 20,991 Class B Ordinary Shares to Xu, pursuant to the employment agreement, between the Issuer and Xu, dated August 22, 2022 (the "Employment Agreement"). On May 8, 2026, the Issuer issued 81,081 Class B Ordinary Shares to Xu, pursuant to the Employment Agreement. On November 27, 2025, the Issuer issued 51,282 Class B Ordinary Shares to Xu, pursuant to the Employment Agreement. On June 17, 2025, the Issuer issued 1,519 (on the post-1:25-reverse split basis) Class B Ordinary Shares to Xu, pursuant to the Employment Agreement. Xu held, indirectly through Xu Ruilin Capital, 768 Class A Ordinary Shares and 6,060 Class B Ordinary Shares as of September 8, 2025. Xu serves as chairman of the board of directors of the Issuer. In such capacities, he may engage in communications with the Issuer's Board of Directors, members of management, other shareholders, financial and legal advisers, and other parties regarding the Issuer, including but not limited to the Issuer's operations, governance and control. In addition, in these capacities, he may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Except as set forth herein, he does not have any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. He may, at any time and from time to time, review or reconsider his position and/or change his purpose and/or formulate plans or proposals with respect thereto.