Xingda provides update on target company capital reduction

Xingda International Holdings Limited announced a supplemental update to its previously disclosed capital reduction of a target company, originally announced on June 25, 2025. The update clarifies the relationship with Dongying Rongju, stating that while previously considered a connected person at the subsidiary level, Dongying Rongju ceased being a substantial shareholder of Shandong Xingda Steel Tyre Cord Co., Ltd on March 15, 2021. As a result, Dongying Rongju and its beneficial owners are independent third parties at the date of the Dongying Capital Reduction Agreement and are not connected with Xingda International Holdings or its subsidiaries. The announcement affirms that all other information in the initial announcement remains unchanged and valid.