Zhangzidao Group shareholder completes stake reduction

Beijing Jirong Yuantong Asset Management Co., Ltd. - Hedaobao No. 1 Investment Fund, a shareholder holding over 5% of Zhangzidao Group's shares, has successfully completed its previously announced share reduction plan. The fund sold 7.08m shares, representing 0.9956% of the company's total share capital, through concentrated bidding between August 29, 2025, and September 26, 2025. The average selling price was 4.21 yuan per share, with prices ranging from 3.85 to 4.41 yuan per share.

Following this transaction, Hedaobao No. 1 Investment Fund's total holdings in Zhangzidao Group decreased from 57.16m shares (8.0385% of total share capital) to 50.08m shares (7.0429% of total share capital). The shares sold originated from an agreement transfer in September 2016 from the company's former controlling shareholder.

Zhangzidao Group confirmed that this reduction complies with relevant securities laws and regulations. The company also stated that the selling shareholder is not the controlling shareholder or actual controller of the company, and this transaction will not alter the company's control or negatively impact its governance structure or continuous operations.