Kingfa Tech shareholder completes planned equity reduction

Kingfa Science & Technology Co., Ltd. announced that shareholder Ms. Xiong Haitao concluded her planned share reduction on July 8, 2025. From April 25, 2025, Ms. Xiong disposed of 26,359,900 shares via centralized bidding, representing 0.9998% of the company's total share capital. The share price ranged from CNY 10.26 to CNY 11.22 per share, resulting in total proceeds of CNY 281,813,207.50. Following the reduction, Ms. Xiong directly holds 43,241,459 shares, or 1.6400% of Kingfa's equity. Combined with associated parties, the total shareholding amounts to 189,881,459 shares, representing 7.2017% of total equity, maintaining a shareholding above 5%. The reduction was consistent with the previously disclosed plan.