Beijing Sinnet Technology's controlling shareholder completes share reduction plan

Beijing Sinnet Technology announced today the completion of a share reduction plan by concert parties of its controlling shareholder, including executives Geng Yan, Guo Mingqiang, and Wang Lu. The total reduction amounted to 1,184,203 shares, representing approximately 0.07% of the company's total share capital. The sales were conducted via centralized bidding transactions.

Geng Yan sold 348,903 shares at an average price of 14.48 yuan per share, while Guo Mingqiang reduced his holding by 667,000 shares at an average of 14.53 yuan per share. Wang Lu sold 168,300 shares at an average price of 13.67 yuan per share. These transactions took place between September 4 and November 19, 2025.

Following the completion of the plan, the controlling shareholder Zhoushan Baihuidda Venture Capital Partnership (Limited Partnership) and its concert parties collectively hold 421,976,261 shares, representing 23.47% of Beijing Sinnet Technology's total share capital. The company affirmed that the share reduction would not lead to a change in control or adversely impact its governance structure and operations.