Shareholder Gong Shuanghong of Hangzhou Chuhuan Technology plans to reduce his holdings by no more than 685,400 shares, accounting for 0.86% of the total share capital.

MaticHoleFiller · 2026-03-25T11:53:24+00:00

Gong Shuanghong, a shareholder of Chu Huan Technology, plans to reduce no more than 685,400 shares, representing 0.86% of the total share capital, through centralized bidding within the next three months. The reduction is due to personal financial needs, with the shares obtained from divorce property division. The minimum reduction price is 22.56 yuan per share. Investors should be aware of the associated risks.

MaticHoleFiller

2026-03-25 11:53:24

Abstract generation in progress

Hangzhou Chuhuan Technology Co., Ltd. (hereinafter referred to as “Chuhuan Technology”) announced on March 19, 2026, that its shareholder Ms. Gong Shuanghong plans to reduce her holdings through centralized bidding transactions within the next three months. The reduction will not exceed 685,400 shares, accounting for 0.86% of the total share capital excluding shares held in the company’s repurchase dedicated securities account.

Key Content of the Reduction Plan

According to the announcement, Ms. Gong Shuanghong currently holds 685,400 shares of Chuhuan Technology, representing 0.86% of the total share capital excluding shares in the repurchase account. The main details of her reduction plan are as follows:

Subject	Details
Reducing Party	Gong Shuanghong
Reason for Reduction	Personal financial needs
Source of Shares	Shares obtained from divorce property division before the company’s initial public offering
Method of Reduction	Centralized bidding transaction
Quantity to be Reduced	No more than 685,400 shares (0.86% of total share capital excluding repurchase account shares). If dividends, stock bonuses, or other share changes occur during the period, the number will be adjusted accordingly, but the proportion remains unchanged.
Reduction Period	Within three months after the disclosure date of this announcement (from March 24, 2026, to June 23, 2026)
Price Range	Determined based on market prices, with the minimum reduction price not lower than 22.56 yuan per share. If ex-dividend or other adjustments occur, the price will be adjusted accordingly.

Shareholding and Commitment Fulfillment Status

The announcement shows that as of the disclosure date, Chuhuan Technology’s total share capital was 80,373,500 shares, of which 520,000 shares were held in the repurchase dedicated securities account. Excluding this portion, the total share capital was 79,853,500 shares. Ms. Gong Shuanghong’s holdings of 685,400 shares account for 0.86% of the total share capital excluding the repurchase account.

It is noteworthy that the shares held by Ms. Gong Shuanghong originated from the division of property in her divorce, obtained before the company’s initial public offering. She has committed to continue fulfilling the relevant commitments made by former shareholder Mr. Chen Xiaodong at the time of the company’s IPO. Chen Xiaodong promised that, after the lock-up period expires, within two years (from July 25, 2025, to July 24, 2027), the price for reducing shares obtained before the IPO would not be lower than the issuance price. After the 2025 semi-annual rights adjustment, the minimum reduction price is 22.56 yuan per share. As of now, Ms. Gong Shuanghong has not violated any commitments.

Risk Reminder

Chuhuan Technology reminds that Ms. Gong Shuanghong will decide whether to implement the reduction plan based on market conditions, the company’s stock price, and other factors. The specific timing, price, and quantity of the reduction are uncertain. This reduction plan does not violate relevant laws and regulations and will not lead to a change in the company’s control rights. It will not have a significant impact on the company’s governance structure or ongoing operations.

The company also reminds investors to invest rationally and be aware of investment risks.

(Source: Company Announcement)

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