Hangzhou Arcvideo Technology announced that Beijing Enlight Media, a shareholder holding more than 5% of the company's shares, plans to reduce its stake in the company by no more than 1.1192 million shares, or 1% of the total share capital of the company, through centralized bidding from July 8, 2024 to October 8, 2024. The reduction price will be determined according to the market price. The purpose of this reduction is to improve the efficiency of asset operation and optimize the asset structure. Beijing Enlight Media currently holds 8,843,500 shares of the company, accounting for 7.90% of the total share capital.