Baicheng Corp. plans to reduce its holdings of up to 138,000 shares by some of its directors and executives.

Directors Lv Guangshuai, Zhang Jiyong, and executive Chen Yingxu plan to reduce their holdings. As of the disclosure date of the announcement, Lv Guangshuai and Zhang Jiyong each hold 216,000 shares, accounting for 0.0409%; Chen Yingxu holds 120,000 shares, accounting for 0.0227%. The three individuals plan to collectively reduce their holdings by a total of no more than 138,000 shares through centralized bidding auctions within 15 trading days after the announcement and within the next 3 months, accounting for no more than 0.0261% of the total share capital of the company. Each person will not reduce their holdings by more than 25% of their total holdings, and the reduction price will be determined by market price. The reason for the reduction is personal financial needs. The implementation of the reduction plan is uncertain and does not involve the risk of changing control of the company.