Shareholder Zhongteng Investment of Sailvan Times (301381.SZ) plans to reduce its stake by no more than 3%.

Sailvan Times (301381.SZ) announced that its shareholder Zhongteng Investment Enterprise (Limited Partnership) (referred to as "Zhongteng Investment") plans to reduce its total holding of the company's shares by no more than 12.1037 million shares within three months after the disclosure of this announcement, through centralized bidding and/or block trading, accounting for no more than 3% of the company's total share capital.