Chipsea Technology: Plans to reduce holdings of repurchased shares by no more than 1% to supplement working capital.

Xinhai Technology announced that from January to April 2024, the company repurchased a total of 2.2906 million shares, accounting for 1.59% of the total share capital, and has not reduced its holdings. The company plans to reduce its holdings of up to 1.4409 million repurchased shares, accounting for 1% of the total share capital, within three months after the 15 trading days from the announcement date, through centralized bidding. The proceeds from the reduction will be used to supplement working capital. If the sale is not completed, the unexecuted portion will be canceled. This reduction may not be completed as planned due to regulatory and market factors.