Core Viewpoint - The announcement details a passive dilution of the shareholding percentage of the controlling shareholder and its concerted parties due to the company's stock incentive plan and the issuance of H-shares, which does not trigger a mandatory tender offer or change in control [2][3]. Group 1: Shareholding Changes - The controlling shareholder, Kunshan Longqi Investment Management Center, and its concerted parties collectively hold 179,054,013 shares, with their shareholding percentage diluted from 38.50% to 34.26% due to the increase in total share capital [3][6]. - The total share capital increased from 465,096,544 shares to 522,590,644 shares after the issuance of H-shares, resulting in a passive dilution of the controlling shareholder's stake [6][10]. Group 2: H-share Issuance - The company plans to issue a total of 52,259,100 H-shares, with 5,226,000 shares allocated for public offering and 47,033,100 shares for international offering, prior to the exercise of the over-allotment option [10][11]. - The estimated net proceeds from the global offering, assuming no exercise of the over-allotment option, is approximately HKD 1.52 billion [10]. Group 3: Compliance and Governance - The equity change does not trigger a mandatory tender offer and will not affect the company's governance structure or ongoing operations [8]. - The company confirms that the equity change complies with relevant laws and regulations, including the Securities Law and the Management Measures for the Acquisition of Listed Companies [8].

目前，公司生产经营状况稳定有序，此次终止发行H股股票，是公司基于对多方面因素的全面权衡及实 际情况作出的审慎决策，不会对生产经营和持续发展造成重大不利影响，不存在损害公司及全体股东特 别是中小股东利益的情形。 格隆汇1月22日丨玲珑轮胎(601966.SH)公布，鉴于当前宏观经济环境、公司自身实际情况、发展规划， 以及结合资本市场环境变化等多重因素的综合考量，并始终秉持维护股东利益、对股东负责的原则，经 公司与相关中介机构进行深入探讨与审慎分析后，决定终止此前筹划的发行H股股票并于香港联交所主 板上市的事项。 ...

Group 1: Company Overview - The company conducted an investor relations activity on May 23, 2025, attended by 53 representatives from various securities and investment firms [1] - The event included a tour of the company and the Zhenbao Museum [1] Group 2: Market Performance - Despite recent fluctuations in gold prices, the average store revenue has maintained the trend observed since the first quarter [1] Group 3: H-share Issuance - The plan for issuing H-shares is still in the planning stage and no specific proposal has been formed yet; further disclosures will follow [2] - Discussions included the company's jewelry product series, new product planning, product structure, channel expansion, and e-commerce business [2]