Konfoong Materials International announced that its shareholders Bayerke Consulting, Ningbo Jiangge, and Ningbo Hongde plan to reduce the company's shares by a total of no more than 2.6 million shares, which is no more than 0.98% of the company's current total share capital and 0.98% of the total share capital after deducting the shares in the repurchase special account, within three months after the disclosure date of this announcement (from January 23, 2025, to April 22, 2025) through centralized bidding or block trading. The reduction by Bayerke Consulting is due to its own financial needs, while Ningbo Jiangge and Ningbo Hongde's reductions are mainly to meet the needs of employees to return to their families and repay loans. This reduction will not have a significant impact on the company's governance structure and future operations, nor will it lead to a change in the company's control.