Asia Cuanon Technology (603378.SH) controlling shareholder and consistent actor Runhetongcai intends to passively reduce its shareholding by no more than 3%.

Asia Cuanon Technology (603378.SH) announced that due to the fact that the controlling shareholder's concerted action person, Runhe Tongcai, failed to maintain the guarantee ratio of the credit account above the liquidation line and did not provide additional collateral to raise the guarantee ratio above the margin call release line, triggering the forced liquidation process. The forced liquidation may result in the passive reduction of Runhe Tongcai's holding of 12.8579 million shares of the company, accounting for 3% of the total share capital. This reduction plan will be implemented within 3 months after the disclosure of the plan, and the reduction price will be determined based on the market price at the time of implementation.