XATUNG New Energy's shareholder Ningbo Haicheng has completed its reduction plan, reducing its stake by 1%.

On June 28, 2025, Xiamen Tungsten disclosed that its shareholder Ningbo Haicheng planned to reduce its holdings by no more than 1% of the total share capital. Due to the completion of equity distribution on July 3, the adjusted amount to be reduced after the increase in share capital is no more than 5,040,000 shares. From July 21 to September 22, Ningbo Haicheng reduced its holdings through centralized bidding transactions by 5,035,204 shares, accounting for 1% of the total share capital, at a reduction price of 48.00 - 90.96 yuan/share, with a total amount of 289,892,187.50 yuan. After the reduction, Ningbo Haicheng's shareholding ratio decreased to 5.64%. This reduction does not trigger a tender offer, does not affect the company's controlling rights and operations, and the reduction plan has been fully implemented.