Announcement on Share Reduction Plan by Shareholders Holding Over 5% of the Company
The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Special Reminder: Hangzhou Yuanfang Changyi Investment Co., Ltd. (hereinafter referred to as "Yuanfang Changyi"), which holds 50,767,560 shares of the company, accounting for 18.88% of the total share capital, plans to reduce its holdings by no more than 2,555,000 shares (accounting for 0.95% of the total share capital) within three months after a 15-trading-day period from the date of this announcement, through centralized bidding or block trading. Yuanfang Changyi is the controlling shareholder and a concerted actor with Mr. Pan Jiangen, the actual controller, and Ms. Meng Xin.
On May 27, 2026, the company received a "Share Reduction Plan Notification Letter" from Yuanfang Changyi, a shareholder holding over 5% of the company. The specific details are announced as follows:
1. Basic Information of the Reducing Shareholder
- Shareholder Name: Hangzhou Yuanfang Changyi Investment Co., Ltd.
- Shareholding Situation: As of the date of this announcement, Yuanfang Changyi holds 50,767,560 shares, accounting for 18.88% of the total share capital, of which 12,691,890 shares are tradable without restrictions, accounting for 4.72% of the total share capital.