Shareholders plan to reduce holdings, Red Avenue New Materials continues to drop over 6%, recording a three-day decline

Red Avenue New Materials continued to decline by over 6%, with a total drop of over 10% in three days, currently reported at 33.2 yuan, and the total market value has fallen below 20 billion yuan. In terms of news, last night Red Avenue New Materials announced a share reduction plan, stating that the shareholder Zhoushan Yutong Venture Capital Partnership intends to reduce its holdings by no more than 7.5 million shares, accounting for no more than 1.25% of the company's total share capital. Additionally, it is reported that the company has announced share reduction plans a total of 4 times in the past three years