Elon Technology announced that Zhang Yinhua, the controlling shareholder and actual controller, holds 22.55 million shares of the company, accounting for 28.57% of the total share capital. It plans to reduce its holdings by no more than 2 million shares through centralized bidding or bulk transactions from November 4, 2026 to February 2, 2027, accounting for 2.59% of the total share capital. The reason for the reduction was its own capital requirements.

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.