Red Avenue New Materials: Significant shareholder completes stake reduction

A significant shareholder in Red Avenue New Materials Group has completed its previously announced share reduction plan. As of September 24, 2025, the shareholder disposed of 12,460,000 shares of the company, fulfilling its plan to reduce holdings by up to 13,000,000 shares. This transaction represents a 2.08% reduction in its stake.

The share reduction was executed through a combination of centralized bidding and block trading methods. The shareholder sold 5,980,000 shares via centralized bidding at prices ranging from 33.66 yuan to 41.55 yuan per share, totaling 214,669,413 yuan. An additional 6,480,000 shares were sold via block trading at prices between 30.74 yuan and 34.00 yuan per share, amounting to 205,338,200 yuan. The total proceeds from these transactions reached 420,007,613 yuan.

Following this divestment, the shareholder's stake in Red Avenue New Materials Group has decreased to 11,434,623 shares, representing 1.91% of the company's total share capital. The company stated that the shareholder's current capital needs have been met, and the reduction plan, which commenced on September 10, 2025, is now complete.