Shangwei Co., Ltd.: Shareholder Li Guangyuan has completed a reduction of holdings, reducing his stake to 9.98%.

Shangwei announced that shareholder Li Guangyuan has completed his share reduction plan. Before the reduction, Li Guangyuan held 10.98% of the company's shares. On September 8th, the company disclosed its reduction plan, intending to reduce no more than 1% of the shares through centralized bidding from September 30th to December 29th. As of November 20th, Li Guangyuan has reduced 6.2 million shares through centralized bidding, accounting for 1% of the total share capital of the company, with a total reduction amount of 50.8472 million yuan. After the reduction, his shareholding ratio has decreased to 9.98%. This reduction does not violate relevant regulations, does not trigger a mandatory tender offer, and will not lead to a change in the company's controlling shareholder.