Xinquan Group: One of the controlling shareholders, Tang Zhihua, intends to reduce his holdings by no more than 2% of the company's shares.

Xinquan Corporation announced that one of the actual controllers, Tang Zhihua, plans to reduce the company's shares by no more than 9,746,074 shares, accounting for 2.00% of the total number of shares of the company, through centralized bidding and block trading within 3 months after the announcement date. The reduction price shall not be lower than the issue price of the first public offering of shares. The reduction entities include Tang Zhihua and his concerted action person Jiangsu Xinquan Zhihe Investment Co., Ltd., Tang Meihua. The reduction plan aims to meet personal funding needs. If there are stock dividends or capital reserve increases during the reduction period, the reduction quantity will be adjusted accordingly.