PINLIVE announced that the company's controlling shareholder and actual controller, Wang Mu, plans to reduce his holdings of the company's shares by no more than 2,970,111 shares, or no more than 3% of the company's total share capital, through centralized bidding and block trading within three months after the announcement date of this reduction plan, starting from 15 trading days after the announcement. The reduction period is from September 20, 2025, to December 19, 2025. The reduction price will be based on market prices, and the price per share will not be lower than the issue price. The implementation of the reduction plan will not lead to a change in the company's control
