Gongniu Group's controlling shareholder reduces stake

Gongniu Group's controlling shareholder, Ruan Xueping, and his concerted parties, collectively reduced their stake in the company. Their total shareholding decreased from 151,100.4275 million shares (83.55% of total share capital) to 150,061.0222 million shares (82.97% of total share capital). This 0.58% reduction triggered the 1% threshold notification requirement.

The equity change involved Ruan Xueping directly selling 1,039.4053 million shares through block trades between November 4, 2025, and November 10, 2025, representing 0.5747% of the company's total share capital. His direct holding decreased from 12.92% to 12.34%.

This reduction aligns with previously disclosed plans and commitments, does not trigger a mandatory tender offer, and will not alter the company's controlling shareholder, actual controller, or significantly impact its governance structure or ongoing operations.