FULAI New Materials: Shareholder Progressive Management Corporation intends to reduce its shareholding in the company by no more than 1.33%.

Fulei's new announcement states that the shareholder Jiaxing City Enterprise Management Partnership Enterprise plans to reduce its holdings of no more than 3,762,500 shares of the company through centralized bidding and block trading, accounting for 1.33% of the company's total share capital. The number of shares to be reduced shall not exceed 25% of its total holdings. The reduction period shall be within 3 months after 15 trading days from the date of announcement disclosure.