Innovation New Material to circulate over 2bn restricted shares

Innovation New Material Technology Co., Ltd. (formerly Beijinghualian Hypermarket Co., Ltd.) announced that 2,089,065,368 restricted shares will begin circulation on November 17, 2025. These shares, primarily from a non-public issuance for asset acquisition, represent 55.62% of the company's total share capital.

The shares were acquired by various entities, including Shandong Innovation Group Co., Ltd. (1,122,622,650 shares), Cui Lixin (537,506,796 shares), and Yang Aimei (88,456,425 shares), among others. They were subject to a 36-month lock-up period. Huatai United Securities Co., Ltd., the independent financial advisor, confirmed that the release complies with regulations and shareholder commitments.

The company's total share capital changes include the addition of 3,337,790,685 shares from an asset acquisition in November 2022 and 332,594,235 shares from supporting fund placements in August 2023. Share repurchases and cancellations due to unfulfilled performance commitments in August 2024 and September 2025 reduced the total, resulting in a current total of 3,756,072,163 shares.