Suzhou Veichi Electric (688698.SH) controlling shareholder and its concerted action party plan to reduce their shareholding by no more than 3%

Suzhou Veichi Electric (688698.SH) announced that its controlling shareholder, Huaian Suzhou Veichi Electric Technology Co., Ltd. (referred to as Huaian Weichuang), along with its concerted action parties Jin Haocheng and Jin Zhicheng, plan to reduce their holdings of the company by a total of no more than 6.32 million shares through both centralized bidding and block trading. The planned reduction of shares will not exceed 3% of the total share capital after deducting the repurchased shares.