Changchuan Technology shareholders to cut stakes for investment, capital needs

Hangzhou Changchuan Technology Co. has received notifications from its actual controller's concert party, Hangzhou Changchuan Investment Management Partnership, and a major shareholder, Zhong Fenghao, regarding their intentions to reduce shareholdings. Hangzhou Changchuan Investment Management Partnership plans to divest up to 11,968,400 shares, representing 1.8866% of the company's total share capital.

Mr. Zhong Fenghao, who holds 5.1531% of the total share capital, intends to reduce his stake by up to 1,000,000 shares, which accounts for 0.1576% of the company's total share capital. Both parties cite investment needs and capital management as the reasons for the planned reductions.

The reductions will occur within three months, starting 15 trading days after the announcement date (December 22, 2025), through centralized bidding and block trading. The company emphasizes that these plans will not alter the company's control or negatively impact its governance structure or ongoing operations.