Nanjing Shanglu Electronics Controlling Shareholder Sha Hongzhi Reduced Holdings by 1.503 Million Shares, Shareholding Ratio Decreased to 35.82%

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Nanjing Shangluo Electronics Co., Ltd. (hereinafter referred to as “the Company”) announced on March 12, 2026, that the Company’s controlling shareholder, actual controller, Chairman and General Manager Sha Hongzhi recently reduced his holdings through centralized bidding transactions, totaling 1.503 million shares, accounting for 0.22% of the total share capital. After this reduction, Sha Hongzhi’s shareholding ratio decreased from 36.03% to 35.82%, reaching a multiple of 1% in equity change.

Background of the Reduction Plan

According to the announcement, the Company previously issued a “Pre-disclosure of Reduction Plan by Controlling Shareholder and Actual Controller” (Announcement No.: 2026-007) on February 3, 2026. Sha Hongzhi planned to reduce his holdings by no more than 20.50152 million shares, representing 3% of the company’s total share capital after excluding shares held in the repurchase dedicated account, within three months after the disclosure of this announcement (from March 5, 2026, to June 4, 2026, excluding window periods), through centralized bidding and block trades. This reduction is currently underway as part of that plan.

Details of This Reduction

The announcement shows that Sha Hongzhi, between March 6, 2026, and the date of this announcement, reduced his holdings by a total of 1.503 million shares through centralized bidding, accounting for 0.22% of the company’s total share capital, and also 0.22% after excluding shares in the repurchase account. The shares involved in this reduction are A-shares.

Comparison of Shareholdings Before and After the Change

Note: If the total does not match the sum of individual items, it is due to rounding.

Impact on the Company and Compliance Explanation

The announcement clearly states that after this change, Sha Hongzhi remains the controlling shareholder and actual controller of the Company. This reduction will not lead to a change in control or significantly affect the Company’s ongoing operations. Additionally, this reduction is consistent with previously disclosed intentions, plans, and commitments, and does not violate laws such as the Securities Law, the Administrative Measures for Takeovers of Listed Companies, or the rules of the stock exchange.

The Company states that it will continue to monitor the implementation of the shareholder’s reduction plan and fulfill information disclosure obligations in a timely manner according to relevant regulations.

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Editor: Xiao Lang Kuai Bao