Wuhan Dangdai Mingcheng Culture and Sports Group Co. Ltd.'s full interest and principal of the bonds due to be paid on April 17, 2023 for the period from April 17, 2022 to April 16, 2023 have not been paid to China Securities Depository and Clearing Co. Ltd. Shanghai branch, amounting to RMB 321.60 million.

As of the date of this announcement, Contemporary Culture and Sports has failed to pay the principal and interest of this bond.