Core Viewpoint - The announcement details a reduction in shareholding by a major shareholder, Lin Peigao, who now holds 5.00% of the company's total shares, amounting to 6,691,000 shares, without triggering a mandatory takeover bid [2][3]. Summary by Sections 1. Basic Situation of the Equity Change - The equity change is classified as a reduction and does not involve a change in the controlling shareholder or actual controller of the company [2][3]. - The reduction is part of a previously disclosed share reduction plan [2]. 2. Subsequent Matters - The equity change is a normal reduction by the shareholder and will not significantly impact the company's governance structure or operational continuity [2]. - The reduction aligns with the shareholder's previously announced plan to reduce shares [2][3]. 3. Purpose and Holding Plan of the Equity Change - The purpose of the equity change is primarily due to the shareholder's personal funding needs [7]. - The shareholder has no specific plans to increase or further reduce shares in the next 12 months beyond the disclosed reduction plan [8]. 4. Equity Change Method - The shareholder reduced their holdings by 734,344 shares through centralized bidding from April 17 to June 11, 2025, representing 0.55% of the company's total shares [9]. 5. Other Major Matters - The shareholder has complied with all disclosure requirements regarding the equity change and has no undisclosed significant information [11].