Wenzhou Hongfeng: Controlling shareholder Chen Xiao plans to reduce his holdings of the company's shares by no more than 2.52%.

Wenzhou Hongfeng announced on the evening of September 11th that its controlling shareholder and actual controller Chen Xiao, who holds 33.93% of the shares, plans to reduce their holdings of the company's shares by no more than 12.5 million shares, or 2.52% of the total share capital, through a combination of centralized bidding and block trades.