China New Secoo: Several shareholders plan to collectively reduce their holdings by no more than 1.84% of the shares.

China New Sake announced that shareholders Guangdong Red Soil, Nanjing Red Soil, Kunshan Red Soil, and Zhengzhou Bairui, who collectively hold 1.8385% of the company's shares, plan to collectively reduce their holdings by no more than 3,139,260 shares, or no more than 1.8385% of the total share capital of the company, through centralized bidding and block trading. The reason for the reduction is the demand for fund exit and other operational needs. The centralized bidding and block trading will be carried out within 3 months after 15 trading days from the disclosure date of the announcement, with the former not exceeding 1% of the total number of company shares sold continuously for any 90 days, and the latter not exceeding 2%. This reduction will not lead to a change in the company's control, nor will it affect the company's governance structure and ongoing operations.