Shareholder Wu Tifang of Deyi Cultural and Creative Holdings reduces holdings by 3.11 million shares, accounting for 1% of the total share capital.

On March 25, 2026, Deyi Cultural and Creative Group Co., Ltd. (hereinafter referred to as “Deyi Cultural”) announced that the share reduction plan of the company’s controlling shareholder, actual controller, and chairman Wu Tifang has expired. According to the announcement, Wu Tifang has cumulatively reduced 3.1099 million shares during the plan period, accounting for 1% of the company’s total share capital, without exceeding the previously disclosed reduction plan cap.

Implementation of the Reduction Plan

The announcement shows that Deyi Cultural disclosed a pre-reduction announcement for Wu Tifang on December 4, 2025, planning to reduce no more than 6.219868 million shares (2% of total share capital) from December 26, 2025, to March 25, 2026, through centralized bidding and block trades. As of before the reduction plan was implemented, Wu Tifang held 106.7359 million shares, accounting for 34.32% of total share capital; his spouse and concerted action partner Xu Meizhen held 8.1 million shares, accounting for 2.60%, totaling 114.8359 million shares, or 36.93% of total share capital.

According to the announcement, Wu Tifang completed the reduction via centralized bidding trading (including after-hours fixed price trading) on January 23 and February 10, 2026, at average prices of 8.31 yuan/share and 8.28 yuan/share, respectively, reducing a total of 3.1099 million shares, representing 1% of the total share capital. The shares were sourced from the company’s initial public offering shares and their derivative shares.

Changes in Shareholdings Before and After the Reduction

After this reduction, the shareholding status of Wu Tifang and his concerted action partner changed as follows:

The announcement states that Wu Tifang’s reduction amount is within the disclosed plan scope, and his concerted action partner Xu Meizhen did not participate in this reduction. After the reduction, Wu Tifang still holds 33.32% of the company, remaining the company’s controlling shareholder, and their combined shareholding ratio decreased to 35.93%.

Other Remarks

Deyi Cultural emphasized in the announcement that this reduction plan complies with the “Securities Law,” “Interim Measures for the Management of Shareholder Reductions in Listed Companies,” and other laws and regulations. Wu Tifang has pre-disclosed the reduction plan as required, and the actual reduction matches the plan, without violating commitments made during the company’s initial public offering regarding minimum reduction prices or annual reduction ratios.

The announcement also states that this reduction will not lead to a change in the company’s control or have a significant impact on corporate governance, shareholding structure, or ongoing operations.

As of the date of the announcement, Wu Tifang’s reduction plan period has officially expired.

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