Kaichun Co., Ltd.: Wang Li and Xu Lei plan to collectively reduce their holdings by no more than 1% of the company's shares.

Jin10 data reported on May 16 that Kaichun Co., Ltd. announced that its controlling shareholder and actual controller Wang Li, along with concerted actor Xu Lei, plan to reduce their holdings in the company by a total of no more than 800,000 shares through centralized bidding and/or Block Trading from June 11, 2025, to September 10, 2025, accounting for 1% of the company's total equity. Wang Li intends to reduce no more than 630,000 shares, accounting for 0.7875% of the total equity; Xu Lei intends to reduce no more than 170,000 shares, accounting for 0.2125% of the total equity. The reason for the reduction is the funding needs of the shareholders. The reduction price will be determined based on market prices and will not be lower than the issuance price of the company's initial public offering.