Huafeng Test & Control: Major shareholder reduces stake by 1%

China Time Horizon Technology Co. Ltd., a significant shareholder in Beijing Huafeng Test & Control Technology Co. Ltd., has completed an inquiry-based share transfer. The transfer involved 1,355,333 shares at a price of CNY 162.82 per share. This transaction resulted in a 1.00% reduction in China Time Horizon's ownership of the company's total share capital.

Following the transfer, China Time Horizon now holds 14,802,192 shares, reducing its stake from 11.93% to 10.92%. This change triggered a 1% integer multiple threshold for equity variation. The company's controlling shareholder, actual controller, directors, supervisors, and senior management did not participate in this inquiry-based transfer, ensuring no change in the company's control.

The transaction was executed on December 18, 2025, with eleven institutional investors, including wealth management firms, securities companies, and qualified foreign institutional investors, acquiring the shares. The inquiry process, overseen by CITIC Securities Co. Ltd., adhered to market regulations and principles of fairness and transparency.