Chutian Dragon (003040.SZ)'s controlling shareholder plans to reduce its shareholding by no more than 3%.

Chutian Dragon (003040.SZ) announced that its controlling shareholder, Wenzhou Xianghongwan Enterprise Management Co., Ltd. ("Wenzhou Xianghongwan"), which holds a 45.54% stake, plans to reduce its holdings of the company's shares by no more than 13,834,079 shares (i.e., no more than 3% of the company's total share capital) in aggregate through centralized bidding or block trades within 3 months after 15 trading days from the date the company announces this reduction plan.