One of the controlling shareholders of Sinomag Technology (300835.SZ), Xiong Yongge, intends to reduce his holdings by no more than 1.15 million shares.

Sinomag Technology (300835.SZ) announcement, one of the actual controllers, directors, and general managers of the company, Mr. Xiong Yongge, plans to reduce his holdings of the company's shares by no more than 1.15 million shares (0.9924% of the total share capital excluding repurchased shares) through centralized bidding within three months starting from 15 trading days after the disclosure of this announcement. In addition, Mr. Xiong Yan'ao, a director and vice-general manager of the company, plans to reduce his holdings of the company's shares by no more than 45,000 shares (0.0388% of the total share capital excluding repurchased shares) through centralized bidding within three months starting from 15 trading days after the disclosure of this announcement.