Tinci Materials directors, senior management plan share reduction

Guangzhou Tinci Materials Technology Co., Ltd. has announced that vice chairman Xu Sanshan, director, deputy general manager, and chief financial officer Gu Bin, and deputy general manager Shi Litao, plan to reduce their shareholdings.

Xu Sanshan, who holds 3,053,974 shares (0.1508% of total share capital), intends to sell up to 500,000 shares (0.0247%). Gu Bin, with 2,713,396 shares (0.1340%), plans to sell up to 400,000 shares (0.0198%). Shi Litao, holding 96,100 shares (0.0047%), will reduce his stake by up to 24,025 shares (0.0012%).

The share reductions will be conducted via concentrated bidding within three months, starting 15 trading days after the announcement date. The total reduction across all three individuals amounts to 924,025 shares, representing 0.0456% of the company's total share capital. The executives cite personal financial needs as the reason for the sales, while maintaining a positive outlook on the company's future development.

The company affirmed the planned reduction complies with relevant regulations and will not result in a change of control or adversely affect the company's continuous operations or governance structure.