Guangwei Composite (300699.SZ) holding company Guangwei Group plans to reduce its shareholding by no more than 1.21%.

Intelligent Finance APP news, Guangwei Composite Materials (300699.SZ) announced that the company's controlling shareholder, Weihai Guangwei Group Co., Ltd. (referred to as "Guangwei Group"), plans to reduce its total stake in the company by no more than 10 million shares within three months after the date of this announcement through centralized bidding or block trading, accounting for 1.21% of the company's total share capital excluding repurchased shares.