Zangge Holding major shareholder completes stake reduction

Zangge Holding Co. announced that its major shareholder, Ningbo Meishan Bonded Port Area Xinshanhongyun Investment Management Co., Ltd. ("Xinshanhongyun Investment"), has completed its share reduction plan. Xinshanhongyun Investment sold 9,337,065 shares of Zangge Holding through centralized bidding between October 24, 2025, and December 2, 2025. This represents 0.60% of the company's total share capital after excluding repurchased shares.

The shares were sold within a price range of RMB57.50 to RMB65.19 per share, with an average transaction price of RMB62.28 per share. Prior to the reduction, Xinshanhongyun Investment held 156,364,353 shares, accounting for 9.96% of the total share capital or 9.97% after excluding repurchased shares.

Following the completion of the reduction plan, Xinshanhongyun Investment now holds 147,027,288 shares, which represents 9.36% of Zangge Holding's total share capital or 9.37% after excluding repurchased shares. The company confirmed that Xinshanhongyun Investment's actions complied with relevant securities laws and regulations, and no violations of previously disclosed reduction plans or commitments occurred.