Belle Electric: Xinhao Investment plans to reduce its shareholding in the company by no more than 2%

BaiLi Electric Announcement: Shareholder Xinhao Investment, for business planning needs, intends to reduce its holdings by no more than 21.7547 million shares, accounting for 2% of the company's total share capital, through centralized bidding and bulk trading. The reduction plan will be implemented within 3 months after 15 trading days from the date of the announcement. Xinhao Investment currently holds 24.2678 million shares of the company, accounting for 2.23% of the total share capital, with shares obtained through bulk trading, centralized bidding, and capital reserve capital increase. Xinhao Investment is a consistent actor with the company's indirectly controlling shareholder BaiLi Equipment Group and controlling shareholder Hydraulic Group, holding a total of 630 million shares of the company, accounting for 57.92% of the total share capital.