On January 7, 2026, Dr. Wei-Wu He submitted a preliminary non-binding proposal letter to the Company's board of directors. In the Proposal Letter, Dr. Wei-Wu He proposed to acquire through an acquisition vehicle (the "Acquisition Vehicle") to be formed by him, all of the Publicly Held Shares for US$1.11 per share in cash. In connection with the Proposal, Dr. He also noted that he is willing to consider a PIPE financing of US$20 million at US$1.00 per Ordinary Share as an alternative if the Company is not considering the Proposal, to fund the Company's future financial needs. On January 9, 2026, Dr. Wei-Wu He submitted an updated preliminary non-binding proposal letter (the "Proposal Letter") to the Company's board of directors. In the Proposal Letter, Dr. He noted that in light of newly available information, he proposed to acquire through the Acquisition Vehicle all of the Publicly Held Shares for US$1.15 per share in cash (the "Proposal"). Dr. He also noted that due to the change of the circumstances, he will not consider any PIPE financing transaction as an alternative. The proposed price represents a premium of 30% to the average closing price during the last 30 trading days. If the transactions contemplated by the Proposal are completed, the Ordinary Shares would become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Act and would be delisted from the Nasdaq Stock Market. Dr. He intends to finance the transactions contemplated by the Proposal through a combination of debt and equity. Any definitive agreement entered into in connection with the transactions contemplated by the Proposal is likely to be subject to customary closing conditions, including approval by the Company's shareholders of the terms of the Proposal. The descriptions of the Proposal in this Amendment No. 11 are qualified in their entirety by reference to the Proposal, a copy of which is attached hereto as Exhibit C and incorporated herein by reference in its entirety. Except as indicated above, the Reporting Persons have no plans or proposals which relate to or would result in any of the actions specified in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, formulate other purposes, plans or proposals regarding the Company, or any other actions that could involve one or more of the types of transactions or have one or more of the results described in paragraphs (a) through (j) of Item 4 of Schedule 13D.