Changchuan Technology: Key shareholder reduces stake, crossing 1% threshold

Hangzhou Changchuan Technology Co., Ltd. (Changchuan Technology) announced that Hangzhou Changchuan Investment Management Partnership, a party acting in concert with the company's actual controller, reduced its stake by 5,350,000 shares between December 22 and December 26, 2025. This action, conducted through concentrated bidding and block trading, caused their cumulative shareholding to decrease from 26.4660% to 25.6227%, crossing a 1% integer multiple threshold.

This divestment aligns with the previously disclosed plan from November 28, 2025, which outlined a potential reduction of up to 11,968,400 shares (1.8866% of total share capital) within three months. The recent share sale represents 0.8433% of the company's total share capital of 634,402,614 shares.

The company affirmed that this share reduction, driven by external investment and capital management needs, does not alter the company's control or impact its ongoing operations. The disclosed reduction is within the scope of the original plan, which has not yet been fully implemented.