IBO TECH (02708) executive director, Li Ziming, was forced to sell 1.7 million shares of the company's stock.

"IBO TECH (02708) Announcement: The company's board of directors has been informed by Mr. Lai Ziming, the executive director and chairman of the board, that he has been forced to sell 1.7 million shares of the company's shares (accounting for approximately 0.24% of the total number of shares issued on the date of this announcement), which were held by Mr. Lai Ziming in a securities trading account with margin financing, as he was unable to meet the margin payment requirements. Prior to the sale, Mr. Lai Ziming and Mr. Yi Ming jointly held approximately 12.37% of the total number of shares issued on the date of this announcement, with Mr. Yi Ming holding approximately 11.16%, representing approximately 12.37% of the equity in the aforementioned share capital. After the sale, Mr. Lai Ziming and Mr. Yi Ming jointly hold approximately 12.13% of the total number of shares issued on the date of this announcement, with Mr. Yi Ming holding approximately 11.16%, representing approximately 12.13% of the equity in the aforementioned share capital."