According to Reader Culture's announcement, Huanan, the company's previous shareholder, reduced its holdings of the company's shares through inquiries and transfers from specific institutional investors. The number of shares transferred this time was 12.093 million shares, accounting for 3.00% of the company's total share capital and 7.31% of its shares. The transfer price was 8.65 yuan/share, and the transaction amount was about 104 million yuan. The transferees were 10 investment institutions, and the shares were locked for 6 months. This inquiry and transfer process was legal and compliant, and the transfer results were fair and impartial, and complied with relevant regulatory requirements.

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