Hongbo shares announced that its wholly-owned subsidiary Beijing Yingbo Digital Technology Co., Ltd. and Beijing Baichuan Intelligent Technology Co., Ltd. recently signed a "Confirmation Letter" to terminate the "Cloud Service Agreement" signed by both parties on December 4, 2023. The contract was originally scheduled to be performed for three years, from January 30, 2024 to January 31, 2027. Due to force majeure, the contract can no longer be performed, and the two parties have agreed to stop cooperation and bear no liability to each other. The termination of the contract is not expected to have a significant adverse impact on the company's financial and operating conditions.