On August 11, 2025, ZHONG CHAO HOLDING announced that Chairman Li Bianfen and 10 other directors and senior management personnel plan to reduce their holdings by a total of no more than 2,038,700 shares, accounting for 0.1489% of the company's total share capital, within three months after the fifteenth trading day from the date of the announcement due to personal funding needs, through centralized bidding. The reduction price will be determined based on the secondary market price, and if there are changes in shares, the number of shares to be reduced will be adjusted accordingly. The implementation of this reduction plan is subject to uncertainty, will not lead to a change in the company's control, and will not have a significant impact on operations