Tranche Update on Kuaijishan Shaoxing Rice Wine Co., Ltd.'s Equity Buyback Plan announced on May 10, 2019.

From May 9, 2019 to September 30, 2019, the company has repurchased 2,066,020 shares, representing 0.42% for CNY 17.85 million. With this, the company has completed the repurchase of 2,066,020 shares, representing 0.42% for CNY 17.85 million under the buyback announced on May 10, 2019.