Dabeinong's controlling shareholder reduces stake, crosses 1% threshold

Beijing Dabeinong Technology Group announced that its controlling shareholder and actual controller, Mr. Shao Genhuo, reduced his stake by 41,840,000 shares through centralized bidding between November 19 and November 24, 2025. This reduction represents 0.97% of the company's total share capital (or 0.98% excluding repurchased shares).

Following this transaction, Mr. Shao Genhuo's shareholding decreased from 22.73% to 21.75% of the total share capital (or from 22.83% to 21.85% excluding repurchased shares), crossing a 1% integer multiple threshold. The company had previously disclosed a plan on September 10, 2025, for Mr. Shao to potentially reduce his holdings by up to 85,607,400 shares, equivalent to 1.99% of the total share capital.

The company confirmed that this change aligns with the previously disclosed plan and does not violate any relevant laws or commitments. Mr. Shao Genhuo remains the controlling shareholder and actual controller, and the change is not expected to significantly impact the company's governance structure or ongoing operations.