Xi'an ChenXi Aviation Technology Corp., Ltd (300581.SZ), the controlling shareholder TIME INTERCON plans to reduce its shareholding by no more than 3%.

Xi'an ChenXi Aviation Technology Corp., Ltd. (300581.SZ) announced that the company's controlling shareholder, TIME INTERCON, plans to reduce its stake in the company by no more than 1% of the total share capital through centralized bidding within three months after the release of this announcement and 15 trading days later. They also plan to reduce their stake by no more than 2% of the total share capital through block trades. The total reduction will not exceed 16.5033 million shares, or 3% of the total share capital of the company.