Xinchai Group: Supervisor Wang Guogang and executive Zhou Gaofeng plan to collectively reduce their holdings of the company's shares by no more than 0.05%.

On May 25, Xinshai Co., Ltd. announced that the company supervisor Wang Guogang and senior management Zhou Gaofeng plan to reduce their shareholdings through centralized auction within 3 months after 15 trading days from the pre-disclosure announcement of the reduction plan, due to personal funding needs. They will respectively reduce their holdings by no more than 93,800 shares and 28,100 shares, accounting for 0.04% and 0.01% of the total share capital of the company. The reduction price will be determined based on the secondary market price at the time of reduction. The implementation of this reduction plan is subject to uncertainty.