Huitung Energy Shareholder Ningbo Hutong Reduces Holdings by 2.0628 Million Shares, Cashes Out 63.1 Million Yuan, Shareholding Ratio Falls Below 5%

Shanghai Huitong Energy Co., Ltd. (hereinafter referred to as “Huitong Energy”) announced on March 20, 2026, that its shareholder Ningbo Hutong Private Fund Management Partnership (Limited Partnership) – Hutong Chuangxin No. 1 Private Securities Investment Fund (hereinafter referred to as “Ningbo Hutong”) has completed the previously disclosed share reduction plan, reducing a total of 2,062,800 shares, accounting for 0.99999% of the company’s total share capital, with a total reduction amount of approximately 63.1031 million yuan. After this reduction, Ningbo Hutong’s shareholding ratio decreased to 4.99664%, no longer qualifying as a shareholder holding more than 5% of the company.

Details of the Share Reduction Plan Implementation

The announcement shows that Ningbo Hutong disclosed the reduction plan on February 13, 2026, due to its own capital needs. The plan was to reduce no more than 2,062,800 shares, or 0.99999% of the company’s total share capital, through centralized bidding within three months after the disclosure date, within 15 trading days.

On March 19, 2026, Huitong Energy received a “Notice of Share Reduction Results” from Ningbo Hutong. During the reduction period (March 16 to March 18, 2026), Ningbo Hutong reduced a total of 2,062,800 shares through centralized bidding, with a price range of 29.06 yuan/share to 31.46 yuan/share, totaling approximately 63.1031 million yuan. The entire reduction plan has been fully implemented, with the actual reduction quantity and proportion consistent with the original plan.

Shareholding Changes Before and After the Reduction

Before this reduction, Ningbo Hutong held 12,370,000 shares of Huitong Energy, accounting for 5.99663% of the total share capital, making it a shareholder holding more than 5%.

Compliance Statement

The announcement states that Ningbo Hutong strictly complied with relevant laws, regulations, and stock exchange rules during the reduction. The actual reduction was consistent with the previously disclosed plan and commitments, with no unimplemented reductions, failure to meet the minimum quantity or proportion, or early termination of the plan.

The board of directors of Shanghai Huitong Energy Co., Ltd. stated that this shareholder reduction is due to the shareholder’s own capital needs and will not have a significant impact on the company’s governance structure or ongoing operations.

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