Kuang-Chi Technologies' controlling shareholder reduces stake to address debt

Tibet Yingbang Industrial Development Co., Ltd. (Tibet Yingbang), the controlling shareholder of Kuang-Chi Technologies, transferred 21,545,879 shares through block trading between October 24 and October 29, 2025. This transaction represents a 1.00% reduction in the company's total share capital.

Before this change, Tibet Yingbang held 25.00% of Kuang-Chi Technologies' total share capital. Following the transaction, its holdings decreased to 24.00% of the total share capital, crossing the 1% integer multiple threshold. The company stated this change will not affect its control, governance structure, or ongoing operations.

The funds from this share transfer are earmarked by Tibet Yingbang to repay existing debts and reduce its share pledge ratio. The shares divested were originally acquired in a 2017 private placement. This equity change complies with all relevant securities laws and regulations.