Boyun New Materials: Shareholder Gaochuang Investment plans to reduce its stake in the company by no more than 3%.

Boyun New Materials announced that the company plans to collectively reduce its holdings of up to 17.2 million shares through centralized bidding and block trading within the next three months, which is not more than 3% of the company's total share capital. The source of the reduction is the shares before the company's initial public offering and the shares subscribed in the non-public offering in 2012.