Sinofibers technology updates on major contract, director share reduction complete

Sinofibers Technology (SZSE:300777) provided an update on its RMB 2.1693665 billion product order contract with Client A, originally signed in March 2022. A supplementary agreement has been executed, confirming an estimated contract value of RMB 205,680,839.52 to be executed between March 1, 2025, and February 28, 2026. As of September 30, 2025, the contract has been 71.72% fulfilled, with RMB 1,555,908,400 executed and RMB 613,458,100 remaining.

In a separate announcement, director Wen Yuefang's share reduction plan, disclosed on July 28, 2025, has concluded. Between August 27, 2025, and October 15, 2025, Ms. Wen sold 1,192,300 shares via centralized bidding at an average price of RMB 35.85 per share, representing 0.2712% of the company's total share capital.

Following the reduction, Ms. Wen's total shareholding decreased from 2.1649% to 1.8788% of the total share capital. The company affirmed that the share reduction complied with all relevant regulations.