Kehua Holdings announced that the company completed the issuance of shares to specific targets in 2025. The number of shares issued was 29,753,648 shares, the issue price was 10.96 yuan/share, and the total capital raised was 326 million yuan, a net amount of 322 million yuan after deducting issuance fees. The distribution targets are Lu Hongping and Tu Han, the actual controllers of the company, who have subscribed for 20,827,554 shares and 8,926,094 shares respectively, with subscription amounts of 228 million yuan and 98 million yuan. The subscribed shares cannot be transferred within 36 months from the date of listing. This release has carried out the necessary decision-making and approval procedures, and complies with relevant regulations.

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