Ray Media: Controlling shareholders and their concerted actors intend to reduce their holdings by no more than 1% of the total share capital.

Light Media announced that the company's controlling shareholder, Light Holding Limited Company, and its concerted actors, Wang Jian and Wang Hongtian, plan to reduce their holdings of the company's shares by no more than 29.2373 million shares within three months after the disclosure date of the announcement, through centralized bidding and/or block trading, at a ratio not exceeding 1% of the total share capital of the company excluding repurchased shares. The reasons for the reduction include reducing debt ratio, improving financial structure, and personal fund needs. The reduction price will be determined based on market conditions.