Shenma Power: Shareholder Chen Xiaoqin reduced 1% of the company's shares from September 17 to November 5.

Shenma Power announced that its shareholder Chen Xiaoqin reduced its stake in the company by 4.3168 million shares, or 1.00% of the total share capital, through centralized bidding trading from September 17th to November 5th, 2025. After this equity change, the total percentage of shares held by Chen Xiaoqin and its concerted action parties decreased from 79.16% to 78.16%, with the equity change touching a multiple of 1%.