Wenzhou Hongfeng: Controlling shareholder completes reduction plan, cumulatively reducing 0.9998% of shares.

Wenzhou Hongfeng announced that the company's controlling shareholder and actual controller, Mr. Chen Xiao, plans to reduce his holdings by no more than 14.9 million shares, or 3% of the total share capital of the company, through a combination of centralized bidding and block trading from February 24 to May 22, 2026. As of May 22, the time for the reduction plan has expired. Chen Xiao reduced his holdings by 4.969 million shares through centralized bidding transactions, with a reduction ratio of 0.9998% and an average price of 8.52 yuan per share. After this reduction, Chen Xiao's shareholding ratio decreased from 31.42% to 30.42%. This reduction plan complies with relevant regulations and will not lead to any changes in the company's controlling shareholder and actual controller.