Abstract of Interim Report of the First Quarter 2021 Section I Important Statements The Board of Directors, the Supervisory Committee as well as all the directors,supervisors and senior management staff of Joyoung Co., Ltd. (hereinafter referred to All directors attended the board meeting that reviewed this Report. Ningning YANG, CEO of the company; Jiantiao QIU, CFO of the company, and Wen In the event of any discrepancy between the abstract and the full document of the Section II Company Profile 1. Key Accounting Data and Financial Indicators Whether the Company performed a retroactive adjustment to or restatement of accounting data Total For non-recurring profit or loss items defined by the Company according to the definitions underthe Interpretative Announcement onInformation Disclosure of Companies Offering Securities to the Public No. 1—Non-recurring Profit or Lossand the non-recurring profitor loss items listed inthe Interpretative Announcement on Information Disclosure of Companies Offering Securities to the Public No. 1— 2. Total number of shareholders and shareholdings of the top ten shareholders at the period-end 2.1 Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end □ Yes √ No □ Applicable √ Not applicable Section III Significant Events 1. Major Changes of Main Items in Financial Statements and Financial Indicators within the Report 2. Analysis of the Progress of Important Matters and Their Impact and Solutions □ Applicable √ Not applicableThe implementation of share-buyback□ Applicable √ Not applicableThe implementation of reducing buy-back shares through centralized competitive bidding□ Applicable √ Not applicable 3. Commitments Made by the Actual Controller, Shareholders, Related Parties, Purchasers and Other □ Applicable √ Not applicable 4. Investment in Financial Assets 4.1 Securities investments □ Applicable √ Not applicable 4.2 Derivative investment □ Applicable √ Not applicable 5. Progress of Proceeds Investment Project □ Applicable √ Not applicable Warnings and explanations of reasons why the cumulative net profit from the beginning of the year to the end of the next reporting □ Applicable √ Not applicable 7. Significant Contracts for Daily Operations □ Applicable √ Not applicable 8. Trusted Wealth Management Unit: RMB 10,000 Trust investment is expected to be unable to recover the principal or other circumstances that may result in impairment□ Applicable √ Not applicable 9. Illegal external guarantee □ Applicable √ Not applicable □ Applicable √ Not applicable 11. Registration Forms for Research, Communication and Interviews During the Reporting Period. □ Applicable √ Not applicable