星湖科技：持股5%以上股东合计持股比例降至10.86%

Core Viewpoint - The announcement from Xinghuo Technology indicates a significant reduction in shareholding by shareholder Tie Xiaorong, which may impact the company's ownership structure but does not trigger a mandatory takeover bid or change in control [1] Shareholding Changes - From October 24 to November 18, 2025, Tie Xiaorong reduced his shareholding by 12.4654 million shares, decreasing his ownership from 1.21% to 0.46% [1] - The combined shareholding of Tie Xiaorong and his concerted party, Ningxia Yipin Investment Group Co., Ltd., fell from 11.61% to 10.86%, crossing the 1% threshold [1] - Ningxia Yipin Investment Group's shareholding remained unchanged during this period [1] Impact on Company Governance - The reduction in shareholding does not affect the company's controlling shareholder or actual controller, ensuring stability in corporate governance and operations [1]