Tengyuan Cobalt Industry: Shareholders intend to collectively reduce their holdings in the company by no more than 2%.

Tongyuan Cobalt announced on the evening of September 16th that its shareholder Xiamen Tungsten Industry, holding 9.1% of the company's shares, plans to reduce its stake in the company by no more than 2.9329 million shares through centralized bidding, which is not more than 1% of the company's current total share capital. Another shareholder, Changjiang Morning Road, holding 5.16% of the shares, plans to reduce its stake in the company by no more than 2.9329 million shares through centralized bidding or bulk trading, which is not more than 1% of the company's current total share capital. The total reduction in shares by the above-mentioned entities is not to exceed 2% of the shares.