Zhangjiang Hi-Tech controlling shareholder to reduce stake

Shanghai Zhangjiang (Group) Co., Ltd., the controlling shareholder of Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd., intends to reduce its stake in the company. The group, which currently holds 50.75% of the company's total share capital, plans to divest up to 1% of its specific shares, totaling no more than 15,486,895 shares. This reduction excludes shares acquired through concentrated bidding.

The proposed share reduction will occur via concentrated bidding on the stock exchange, with the period for these transactions set from October 30, 2025, to January 29, 2026. The shares to be divested were primarily obtained before the initial public offering, through agreement transfers, and other methods. This decision stems from Zhangjiang Group's operational and development needs.

The company emphasizes that this reduction will not alter the company's control or negatively impact its governance structure or ongoing operations. Pricing will be determined by market conditions at the time of sale, adhering to all relevant laws and regulations.