Luoyang Xinqianglian Slewing Bearing (300850.SZ)'s actual controller plans to increase its shareholding in the company by RMB50 million to RMB100 million.

Luoyang Xinqianglian Slewing Bearing (300850.SZ) announced that Mr. Xiao Gaoqiang, the company's controlling shareholder and actual controller, based on his firm confidence in the company's future development prospects and full recognition of the company's intrinsic value, and in order to better promote the company's sustained, stable and healthy development, plans to increase his shareholding in the company within 3 months from the date of disclosure of this announcement, with the proposed increase amount of no less than RMB50 million and no more than RMB100 million.