Longhua New Material announced that its shareholder, Xinyu Longzhen Investment Partnership, holding more than 5% of the shares, plans to reduce its holdings by no more than 990,000 shares through centralized bidding within three months after 15 trading days from the announcement date, accounting for 0.2302% of the company's total share capital. Mr. Xu Wei, the deputy general manager and board secretary, plans to reduce his holdings by no more than 61,000 shares, accounting for 0.0142% of the company's total share capital. The reason for the reduction is the shareholder's own funding needs