Binjiang Group responds to maximum reduction of holding

On March 15th, regarding the market's commonly referred to as "top grid reduction", the official response from Binjiang Group to reporters stated that since 2016, the controlling shareholder Hangzhou Binjiang Investment Holdings Co., Ltd. has continuously increased its holdings of Binjiang Group shares in the market during downturns, totaling 306 million shares. The actual controller, Mr. Qi Jinxing, has also increased his holdings by 27.4 million shares through the secondary market, actively maintaining the company's value. Binjiang Group also stated that the main purpose of this reduction is to raise funds for the long-term and continuous investment in rural revitalization and social welfare projects by major shareholders.