Caibai Co., Ltd.: Shareholder Zhejiang Mingpai plans to reduce holdings by no more than 3%

Cai Bai Co., Ltd. announced that the shareholder Zhejiang Mingpai Industrial Co., Ltd., holding more than 5% of the shares, owns 126 million unrestricted circulating shares, accounting for 16.20% of the total share capital. The shareholder plans to reduce their holdings by no more than 23.33 million shares within three months after 15 trading days from the date of this announcement through centralized bidding and block trades, representing no more than 3% of their holdings. Of this, no more than 7.78 million shares will be reduced through centralized bidding, and no more than 15.56 million shares through block trades. The reduction price will be determined based on the market price at the time of implementation.