Hongqi Chain announced that Yonghui Supermarket, a shareholder holding more than 5% of the shares, plans to reduce its holdings. As of the announcement date, Yonghui Supermarket held 122,229,900 shares of the company, accounting for 8.99% of the total share capital. It plans to reduce its holdings by no more than 13,600,000 shares through centralized bidding, and to reduce its holdings by no more than 27,200,000 shares in bulk transactions. The reduction period is 3 months after 15 trading days from the date of publication of the pre-disclosure notice. The holdings were reduced due to their own capital requirements, and the source of the shares was transfer by agreement. There is uncertainty about this holdings reduction plan, which will not have a significant impact on corporate governance, etc., nor will it lead to a change in control.

Hongqi Chain announced that Yonghui Supermarket, a shareholder holding more than 5% of the shares, plans to reduce its holdings. As of the announcement date, Yonghui Supermarket held 122,229,900 shares of the company, accounting for 8.99% of the total share capital. It plans to reduce its holdings by no more than 13,600,000 shares through centralized bidding, and to reduce its holdings by no more than 27,200,000 shares in bulk transactions. The reduction period is 3 months after 15 trading days from the date of publication of the pre-disclosure notice. The holdings were reduced due to their own capital requirements, and the source of the shares was transfer by agreement. There is uncertainty about this holdings reduction plan, which will not have a significant impact on corporate governance, etc., nor will it lead to a change in control.