According to Xinhongye's announcement, Yang Yuwei, the shareholder holding 5% or more of the company's shares, reduced his holdings of the company by 1.802 million shares through bulk transactions and centralized bidding, accounting for 0.94% of the company's total share capital; the combined ownership of the company's equity incentives led to an increase in total share capital and passive dilution of the shareholding ratio. Yang Yuwei's shareholding ratio fell from 16.95% to 15.93% of the total share capital. The change in equity hit an integer multiple of 1%. This reduction in holdings will not lead to a change in the company's control and will not affect the company's governance structure and continued operation.

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