Major shareholder to trim stake in Yueyang Xingchang

Hunan Changlian Xingchang Enterprise Services Co., Ltd. ("Xingchang Enterprise Services"), a major shareholder in Yueyang Xingchang Petrochemical Co., Ltd., currently holds 28,840,987 shares, representing 7.81% of the company's total share capital. Xingchang Enterprise Services plans to divest up to 2,200,000 shares, equivalent to 0.60% of the total share capital, through concentrated bidding.

The reduction will occur between December 23, 2025, and March 22, 2026. The specific selling price will be determined based on secondary market prices at the time of the transaction. The shares to be sold originated from holdings acquired before the share reform.

The company clarified that Xingchang Enterprise Services is not a controlling shareholder or actual controller, and this share reduction is not expected to alter the company's control structure or significantly impact its corporate governance and ongoing operations.