Wanda Film: Shareholder Hangzhou Zhenxi plans to reduce its stake in the company by no more than 1.3927%

Wanda Film Announcement: Shareholder Hangzhou Zhenxi, holding more than 5% of the shares, plans to reduce its shareholding in the company by a maximum of 29.4112 million shares through centralized bidding and block trading within 3 months after the disclosure date of the announcement and after 15 trading days, which is not more than 1.3927% of the Company's total share capital. Hangzhou Zhenxi currently holds 135 million shares of the company, accounting for 6.3927% of the total share capital. This reduction plan complies with relevant laws and regulations, and the reason for the reduction is a commercial arrangement by Hangzhou Zhenxi itself.