Maiquer Group shareholder to reduce stake for internal funding needs

Maiquer Group announced that Changji State-owned Assets Investment and Management Group Co., Ltd. (Changji Guotou), a shareholder holding over 5% of its shares, intends to reduce its stake. The planned reduction will involve up to 3,480,000 shares, representing no more than 2% of the company's total share capital. Of this, up to 1,740,000 shares (not exceeding 1% of total share capital) will be sold via concentrated bidding.

The share reduction will occur within three months following 15 trading days from the announcement date, utilizing either concentrated bidding or block trading. The selling price will be determined by market conditions at the time of the transaction. Changji Guotou currently holds 14,156,000 shares, equating to 8.13% of Maiquer Group's total share capital.

The shareholder cited internal funding needs as the reason for the reduction. Maiquer Group confirmed that Changji Guotou is not a controlling shareholder or the actual controller, and this reduction will not alter the company's control or impact its corporate governance and ongoing operations.