According to Chu Tianlong's announcement, Wenzhou Xianghongwan, the controlling shareholder of the company, plans to reduce its total holdings of the company's shares by no more than 138,340.79 million shares through centralized bidding or bulk transactions within 3 months after 15 trading days from the date of the announcement, that is, no more than 3% of the company's total share capital. Wenzhou Xianghongwan currently holds 210 million shares of the company, accounting for 45.54% of the total share capital. The reason for the reduction in holdings is due to its own capital requirements. The implementation of this holdings reduction plan will not result in a change in the company's control.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.