On September 10, Wafer Works (Shanghai) Co., Ltd. disclosed a share reduction plan from one of its major shareholders holding more than 5% of the company's shares.

The announcement revealed that shareholder Henan Jingang Equity Investment Fund Management Co., Ltd. - Henan Xinggang Rongchuang Venture Capital Development Fund (Limited Partnership) intends to sell company shares within three months starting from 15 trading days after this disclosure date, citing its own capital requirements.

As of the disclosure date, the shareholder holds 185.3908 million shares of Wafer Works (Shanghai) Co., Ltd., representing 27.70% of the company's total share capital. All these shares were acquired prior to the company's initial public offering and became tradable on February 10, 2025. This shareholder does not have any parties acting in concert.

The planned reduction will be executed through centralized bidding transactions or block trades, with a total reduction of no more than 6.692 million shares, equivalent to no more than 1% of the company's total share capital. The designated reduction period runs from October 12, 2026, to January 9, 2027.

Should the company undertake corporate actions such as dividend distribution, bonus share issuance, capital reserve conversion to share capital, or rights issues during the reduction period, the planned reduction quantity will be adjusted accordingly. If the company's shares are suspended from trading during the pre-disclosure period, the reduction start date will be postponed.

Notably, this shareholder has already completed two reductions within the past 12 months. The first reduction occurred between November 3, 2025, and January 16, 2026, involving 6.6546 million shares, representing 1% of the total share capital based on the share count at the time of the reduction results announcement. The selling price ranged from RMB 21.40 to RMB 26.56 per share.

The second reduction took place from June 11, 2026, to July 9, 2026, involving 6.692 million shares, also representing 1% of the total share capital based on the share count at the time of the reduction results announcement. The selling price ranged from RMB 27.80 to RMB 40.27 per share.