The second largest shareholder of Guangdong AVCiT Technology Holding (001229.SZ), Ye Weifei, plans to reduce his total shareholding by no more than 3%.

Guangdong AVCiT Technology Holding (001229.SZ) announced that the company's second largest shareholder and director, Mr. Ye Weifei, plans to reduce his shareholding in the company by no more than 1% of the total share capital (equivalent to 1,434,300 shares) through centralized bidding within three months of the date of disclosure of the preliminary announcement of the share reduction plan, starting from the 15th trading day. He also plans to reduce his shareholding in the company by no more than 2% of the total share capital (equivalent to 2,868,600 shares) through block trading.