According to China Heavy Technology's announcement, Changzhou Jinhong Enterprise Management Partnership (Limited Partnership) (“Changzhou Jinhong”), a shareholder holding 5% or more of the shares, plans to reduce its holdings of the company's shares through centralized bidding and bulk transactions by no more than 18.8861 million shares, that is, no more than 3% of the company's total share capital. The holdings reduction price will be determined based on the market price at the time the holdings reduction is implemented. The holdings reduction will be carried out within 3 months after 15 trading days from the date of disclosure of this announcement.