[Kenda] Announcement regarding capital reduction of subsidiary Kenda Global (China) Investment Co., Ltd.

1. Date of Board Resolution: 2026/05/22 2. Reason for reduction: Unallocated capital 3. Amount of reduction: 49,000,000 USD 4. Shares to be eliminated: N/A 5. Reduction ratio: 23.3% 6. Capital after reduction: 161,000,000 USD 7. Scheduled date of shareholders' meeting: 2026/05/22 8. Number of listed common shares after reduction: N/A 9. Ratio of listed common shares after reduction: N/A 10. Measures for low equity liquidity: N/A 11. Base date for reduction: Subject to the approval and completion of registration of capital change by the relevant authorities in mainland China 12. Other matters: None