BDStar navigation executives plan to reduce shareholdings

Beijing BDStar Navigation announced that two senior executives, Pan Guoping, board secretary and vice general manager, and Huang Lei, vice general manager, plan to reduce their shareholdings in the company. Pan Guoping, who currently holds 127,300 shares (0.0234% of total share capital), intends to divest 31,825 shares, representing 0.0059% of the company's total share capital. Huang Lei, holding 67,219 shares (0.0124% of total share capital), plans to reduce his holdings by 16,805 shares, which is 0.0031% of the total share capital.

Both executives will execute their share reductions through centralized bidding within three months, starting 15 trading days after the announcement date. The reduction will adhere to market prices at the time of the transaction. The company confirmed this plan aligns with the executives' prior commitments and existing regulatory requirements for senior management share transfers.

The company stated the planned share reductions will not affect its governance structure, continuous operations, or lead to a change in control. However, the final implementation of the share reduction plan remains subject to market conditions and the company's stock price at the time of sale.