XIANGYUAN NEW MATERIAL announced that shareholders Hubei Gaotou, Liangke Gaotou, and Gaofuxin plan to reduce their holdings by a total of no more than 1.345 million shares through centralized bidding transactions; and by a total of no more than 2.6964 million shares through block trading, to be implemented within three months after the third trading day from the date of this announcement. The three are acting in concert and collectively hold 4.4327 million shares of the company, accounting for 3.2072% of the company's latest disclosed total share capital. The purpose of the reduction is for their own funding needs, and the shares are sourced from those held prior to the initial public offering and listing
