Wangsu Technology director plans share reduction

Wangsu Science & Technology Co., Ltd. announced that Liu Chengyan, a shareholder holding over 5% and a director, plans to reduce their shareholding. Liu Chengyan currently holds 172,569,029 shares, representing 7.02% of the company's total share capital. The proposed reduction involves up to 24,594,497 shares, or 1.00% of the company's total share capital.

The share reduction will be conducted via centralized bidding within three months, starting 15 trading days after the announcement date (December 5, 2025, to March 4, 2026), excluding periods prohibited by laws and regulations. The primary reason cited for the reduction is personal funding needs, with the shares originating from those issued before the company's initial public offering.

Liu Chengyan confirmed adherence to previous commitments, including not reducing shares within six months from August 23, 2023. The company emphasizes that this reduction plan will not alter its governance structure or ongoing business operations.