Zhangyuan Tungsten's controlling shareholder completes stake reduction

Chongyi Zhangyuan Tungsten Co., Ltd. announced that its controlling shareholder, Chongyi Zhangyuan Tungsten Industry Holding Co., Ltd., has completed its share reduction plan. The plan, initially disclosed on September 13, 2025, involved Zhangyuan Holding reducing its stake in the company by up to 24,000,000 shares, representing 2% of the company's total share capital.

Between November 7 and December 22, 2025, Zhangyuan Holding sold 23,989,853 shares through block trades at prices ranging from yuan 11.69 to yuan 12.63 per share, with an average price of yuan 12.04. This transaction resulted in a 1.9968% reduction in Zhangyuan Holding's ownership.

Following the completion of the reduction, Zhangyuan Holding's stake in the company decreased from 705,524,056 shares (58.7243% of the total share capital) to 681,534,203 shares (56.7275%). The company confirmed that this share reduction aligns with all relevant laws and regulations and will not lead to a change in the company's control or have a significant impact on its corporate governance structure, equity structure, or continuous operations.