Huafeng Test & Control shareholders announce share reduction plans

Beijing Huafeng Test & Control Technology Co., Ltd. has announced a share reduction plan by its controlling shareholder, Tianjin Xinhu Investment Holding Co., Ltd. ("Xinhu Holdings"), and its actual controller, director, and senior management, Xu Jieshuang. Xinhu Holdings intends to reduce its holdings by no more than 2,710,000 shares, representing up to 2.00% of the company's total share capital, through centralized bidding and block trading.

Additionally, Xu Jieshuang plans to reduce his holdings by no more than 11,400 shares, or up to 0.01% of the company's total share capital, via centralized bidding. The reduction period for both parties will commence 15 trading days after the announcement date and extend for three months. For centralized bidding, the total reduction within any 90-day period will not exceed 1.00% of the company's total share capital, while for block trading, it will not exceed 2.00%.

The decision to reduce shares is driven by personal funding arrangements. The company reassures that this plan will not lead to a change in the company's controlling shareholder or actual controller, nor will it significantly impact the company's governance structure or continuous stable operations.