Huamao Technology director and general manager to reduce shareholdings

Huamao (Xiamen) New Material Technology Co., Ltd. (HMT) announced that its director and general manager, Mr. Zhang Chuquan, and his concerted party, Maosheng (Xiamen) Enterprise Management Consulting Co., Ltd., plan to reduce their shareholdings. Mr. Zhang intends to directly reduce his holdings by no more than 3,483,725 shares, representing 1.06% of the company's total share capital. Maosheng, which Mr. Zhang controls, plans to indirectly reduce its holdings by no more than 1,612,425 shares, representing 0.49% of the total share capital.

Combined, the planned reduction totals no more than 5,096,150 shares, or 1.55% of the company's total share capital. The sales will be executed through centralized bidding or block trading methods. For centralized bidding, the total number of shares reduced within any continuous 90-day period will not exceed 1% of the company's total share capital.

The reduction period is scheduled from December 5, 2025, to March 4, 2026. The stated reason for the divestment is personal financial needs. Mr. Zhang's current direct holding is 13,934,900 shares (4.23%), while Maosheng holds 6,599,600 shares (2.00%).