According to the announcement, Ye Qiongjiu, a shareholder and director holding 5% or more of the company's shares, plans to reduce the total holdings of the company's shares by no more than 2 million shares (0.37% of the company's total share capital) through centralized bidding transactions or bulk transactions within 3 months after 15 trading days from the date of publication of the announcement. The source of the reduction in holdings was the company's pre-initial public offering. The purpose of the reduction was shareholders' capital requirements. Ye Qiongjiu currently holds 61.7306 million shares of the company, accounting for 11.48% of the company's total share capital.