He Wang Electric: Controlling shareholder Pingqi Technology and Gao Shuli plan to reduce their holdings by 0.91% and 0.18% respectively.

Hewang Electric announced that its controlling shareholder, Shenzhen Pingqi Technology, and acting in concert shareholder Gao Shuli collectively hold 87.8577 million shares, accounting for 19.18%. Due to capital needs, the two parties plan to collectively reduce their holdings by no more than 5 million shares within 3 months starting from the expiration of 15 trading days after the announcement through centralized bidding or block trading, with a proportion not exceeding 1.09%. Pingqi Technology will reduce its holdings by no more than 4.1617 million shares, accounting for 0.91%; Gao Shuli will reduce its holdings by no more than 0.8383 million shares, accounting for 0.18%. The reduction price will be determined based on the market price at the time of implementation, and will be adjusted accordingly if there are changes in shareholding.