Spotlight Technology: Ruoyang Technology passively reduces its company's shares by no more than 1% due to default in margin trading contracts.

Spotlight Technology announced that one of the company's controlling shareholders, Ruiyang Technology, has defaulted on the margin trading contract with CITIC Securities, and some of the company's shares held by it are expected to be forced to be liquidated by CITIC Securities. Ruiyang Technology plans to dispose of up to 4.4873 million shares of the company, accounting for 1% of the total share capital, through centralized bidding trading. The reduction period will be within 3 months after 15 trading days from the date of announcement. This passive reduction will not lead to a change in the company's controlling rights, and will have no impact on the company's governance structure and ongoing operations.