Xiangyang Bearing: Xiangzhou Group plans to reduce its stake in the company by no more than 3%.

Announcement from Xiangyang Bearing: Shareholder Xiangyang Bearing Investment Development Group Co., Ltd., holding more than 5% of shares, plans to reduce its holdings by 13.7884 million shares within three months after fifteen trading days from the date of the announcement through centralized bidding and block trading, accounting for 3% of the total share capital. Xiang Axis Group currently holds 83.1591 million shares of the company, accounting for 18.09% of the total share capital. The reason for the reduction is its own capital needs, and the number and proportion of reductions will not exceed 13.7884 million shares. The reduction method is through centralized bidding and block trading, and the reduction price will be determined based on market prices.