Sheng Hong shares: Fangxing plans to reduce its shareholding by no more than 0.3205% of the company's shares.

Sheng Hong Group announced that the company's controlling shareholder, actual controller, chairman, and general manager Fang Xing plans to reduce the company's shares by no more than 1 million shares in total through centralized bidding or block trading within 3 months after 15 trading days from the announcement date, accounting for 0.3205% of the total share capital of the company excluding the shares in the repurchase special account. Fang Xing currently holds 56.063 million shares of the company, accounting for 17.9665% of the total share capital of the company excluding the shares in the repurchase special account. The reason for the reduction is the personal capital needs of the shareholder. The reduction price will be determined based on the secondary market price and trading method at the time of reduction.