Longxun Group's Two Concerted Actors Complete Share Reduction Plan, Collectively Reduce 2.0361 Million Shares and Cash Out Approximately 160 Million Yuan

On March 17, LongXun Semiconductor (Hefei) Co., Ltd. (hereinafter referred to as “LongXun Shares”) announced the expiration of the shareholder reduction plan and the results of the share reduction. The disclosure revealed the specific implementation details of the reduction by shareholders Hefei Zhong’an Hai Chuang Venture Capital Partnership (Limited Partnership) (hereinafter “Hefei Zhong’an”) and Chuzhou Zhong’an Venture Capital Emerging Industry Fund Partnership (Limited Partnership) (hereinafter “Chuzhou Zhong’an”) during the plan period. As concerted actors, both reduced a total of 2.0361 million shares, cashing out approximately 160 million yuan.

Subject of the reduction and previous shareholding status

The announcement shows that both Hefei Zhong’an and Chuzhou Zhong’an’s executive partners are Anhui Yunsong Venture Capital Fund Management Co., Ltd., constituting concerted actions. Before implementing this reduction plan, Hefei Zhong’an held 2.483 million shares of LongXun Shares, accounting for 1.8623% of the company’s total share capital, including 1.2905 million shares acquired before the initial public offering (listed for trading on February 21, 2024), and 1.1925 million shares obtained through capital reserve converted into shares (already listed and tradable). Chuzhou Zhong’an held 1.0261 million shares, accounting for 0.7696% of the total share capital, including 530,000 shares before the initial offering and 496,000 shares from capital increase. Together, they held a total of 3.5091 million shares, representing 2.6320% of the total share capital.

Results of the reduction plan: total reduction of 2.0361 million shares for approximately 160 million yuan

On November 21, 2025, LongXun Shares disclosed the reduction plan, where Hefei Zhong’an planned to reduce no more than 2.483 million shares (1.8623% of total share capital) from December 15, 2025, to March 13, 2026. Chuzhou Zhong’an planned to reduce no more than 1.0261 million shares (0.7696%) during the same period, citing “own capital needs” as the reason.

On March 16, 2026, the company received notices from the above shareholders that the plan period had expired. The specific implementation was as follows:

Hefei Zhong’an reduced a total of 1.4358 million shares through centralized bidding, accounting for 1.0769% of the company’s total share capital, with a reduction price range of 76.11 to 80.56 yuan per share, totaling approximately 113 million yuan. After this reduction, Hefei Zhong’an still held 1.0472 million shares, reducing its stake to 0.7854%, and did not complete the planned reduction of 1.0472 million shares.

Chuzhou Zhong’an also reduced 600,300 shares via centralized bidding, accounting for 0.4503% of total share capital, with a price range of 76.80 to 80.39 yuan per share, totaling about 47.1705 million yuan. Afterward, Chuzhou Zhong’an held 425,800 shares, reducing its stake to 0.3194%, and did not complete the planned reduction of 425,800 shares.

Compliance and subsequent impact of the reduction

The announcement clearly states that this reduction strictly complies with relevant laws, regulations, and stock exchange rules. The actual reduction matches the previously disclosed plan and commitments, with no violations. As of now, Hefei Zhong’an and Chuzhou Zhong’an, as concerted actors, hold a total of 1.473 million shares, reducing their combined stake in LongXun Shares to 1.1048%.

Market analysis suggests that the shareholders’ reduction based on their own capital needs is a normal market behavior. The fact that the plan was not fully completed may be related to market conditions and stock price trends. LongXun Shares stated that this reduction will not have a significant impact on the company’s governance structure or ongoing operations.

Appendix: Details of the share reduction by Hefei Zhong’an and Chuzhou Zhong’an

(Note: Data source: LongXun Shares announcement. The shareholding ratio is calculated based on the company’s current total share capital of 133,327,682 shares, rounded to four decimal places.)

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