On February 7, Ge Longhui Co., Ltd. (600858.SH) announced that on February 7, 2024, Shandong Commercial Group Co., Ltd. (hereinafter referred to as “Commercial Group”), the controlling shareholder of the company increased its holdings by 7.867 million shares through centralized bidding transactions in the Shanghai Stock Exchange stock trading system, with an average increase of 3,6975 yuan/share, accounting for 1.5128%.

Based on confidence in the company's future stable development and recognition of long-term investment value, the commercial group plans to increase its holdings of the company's shares within 6 months from the date of implementation of this increase (February 7, 2024) using its own funds as permitted by the Shanghai Stock Exchange trading system (including but not limited to centralized bidding transactions, bulk transactions, etc.). The cumulative number of initial and subsequent holdings increases in this plan is not less than 1% of the company's current total share capital (520,066,589 shares) and no more than 2% of the company's current total share capital. There is no price range for this increase in holdings. The commercial group will take the opportunity to implement a plan to increase its holdings based on a reasonable judgment on the value of the company's stock and based on the company's stock price fluctuations and overall capital market trends.