Morn Electric: Wen Zexin reduced holdings by 3.44 million shares

Morn Electric announced that its shareholder Shanghai Rongping Information Technology Co., Ltd., holding more than 5% of shares, will experience a passive reduction in holdings due to Dongxing Securities' plan to reduce its pledged company shares from February 28, 2025, to May 27, 2025. Rongping Information plans to passively reduce its shareholding by no more than 13.176 million shares through centralized bidding and block trading, accounting for no more than 3% of the company's total share capital. Mr. Wen Zexin, a concerted actor of the controlling shareholder and actual controller, plans to reduce his shareholding by no more than 3.44 million shares through centralized bidding from February 28, 2025, to May 27, 2025, accounting for no more than 0.78% of the company's total share capital. As of the announcement date, Mr. Wen Zexin has cumulatively reduced 3.44 million shares through centralized bidding, accounting for 0.78% of the company's total share capital