Qinchuan Internet of Things: Intends to reduce holdings through centralized bidding by no more than 1% to repurchase shares

Qinchuan IoT Announcement: The company held the third meeting of the fourth board of directors on May 15th and approved the motion on the plan for concentrated auction reduction of repurchased shares. The plan is to reduce no more than 1% of the total share capital of the company within three months starting from the date of this announcement, by selling up to 1.68 million repurchased shares through concentrated auction trading at market prices after 15 trading days from the disclosure of this announcement.