Shao Neng Corporation: Shareholder with over 5% reduces holdings by 14.40 million shares, resulting in holding decreasing to 9%.

ShaoNeng Corporation announced that its shareholder Shenzhen Zhaowei Hengfa Energy Co., Ltd., holding more than 5% of the shares, reduced its holdings of the company by 14.4047 million shares through block trading on November 10, accounting for 1.35% of the total share capital of the company and 1.37% of the share capital excluding repurchased shares for special accounts. After this equity change, the shareholding ratio of Shenzhen Zhaowei decreased from 10.35% to 9.00%, reaching integer multiples of 1% and 5% of the total share capital. This reduction is in accordance with the previous divestment plan and will not result in a change in control of the company, with no significant impact on ongoing operations.