Core Viewpoint - The announcement from Xiongdi Technology indicates that the shareholding ratio of key stakeholders Gao Jing and Zheng Song has decreased from 39.60% to 35.00% between March 25, 2022, and November 28, 2025, due to various share reduction and increase activities, as well as dilution from stock incentive plans and distribution of rights [1] Summary by Relevant Categories Shareholding Changes - The total shareholding ratio of Gao Jing and Zheng Song has decreased from 39.60% to 35.00% [1] - This change is attributed to multiple share reduction and increase operations [1] - The dilution of shareholding ratio is also a result of the implementation of stock incentive plans and rights distribution [1]