Chongqing Zonsen Power Machinery (001696.SZ) shareholder Tibet Guolong Technology plans to reduce its shareholding by no more than 3%.

Chongqing Zonsen Power Machinery (001696.SZ) announced that its shareholder, Tibet Guolong Technology Co., Ltd., plans to reduce its holdings of the company's shares by no more than 34.35 million shares (3% of the total shares) through centralized bidding and bulk trading within three months after 15 trading days from the date of this announcement. Director Mr. Li Yao plans to reduce his holdings of the company's shares by no more than 4.24 million shares (0.0037% of the total share capital) through centralized bidding within three months after 15 trading days from the date of this announcement.