1, shareholders holding more than 5% of shares generally require more than two years to reduce their holdings;

2. If shareholders holding more than 5% of shares reduce their shares through centralized bidding on the stock exchange, they shall disclose the reduction plan 65,438+05 trading days in advance;

3. Shareholders holding more than 5% of the shares will reduce their holdings by centralized bidding on the stock exchange within 3 months, and the total number of shares will not exceed 65,438+0% of the total number of shares of the company;

4. When the number of shares sold by the original non-tradable shareholders who hold more than 5% of the shares traded on the stock exchange reaches 65,438+0% of the total shares of the company, it shall be announced within 2 working days from the date of occurrence.

The major shareholders of a listed company shall not reduce their shares in the following ways:

1. The listed company or major shareholder is suspected of committing securities and futures crimes, is being investigated by the China Securities Regulatory Commission or is being investigated by the judicial authorities, and it is less than 6 months after the administrative punishment decision or criminal judgment is made;

2. The major shareholder has been publicly condemned by the stock exchange for violating the rules of the stock exchange for less than 3 months;

3. Other circumstances stipulated by China Securities Regulatory Commission.

Provisions on Shareholding Reduction by the Major Shareholder Dong of a listed company Article 4 Shareholders Dong of a listed company may sell their shares through securities trading on the stock exchange, or reduce their shares through agreement transfer and other means permitted by laws and regulations. Reduction of shares due to judicial enforcement, execution of equity pledge agreement, gift, convertible bonds for shares, equity replacement and other reasons. It shall be handled in accordance with these provisions.

Article 8 Where a major shareholder or director of a listed company intends to reduce his/her shares through centralized auction trading on the stock exchange, he/she shall report to the stock exchange 15 trading days before the initial offering, and disclose the reduction plan in advance, which shall be filed by the stock exchange. The contents of the shareholding reduction plan of major shareholders and directors of listed companies shall include but not limited to the quantity, source, time interval, mode, price range and reasons of shareholding reduction. The time interval of reduction shall conform to the provisions of the stock exchange. During the time interval of pre-disclosure, the major shareholder Dong shall disclose the progress of reduction in accordance with the provisions of the stock exchange. After the implementation of the reduction plan, the major shareholders and directors shall report to the stock exchange and make an announcement within two trading days; If the reduction plan is not implemented or completed within the pre-disclosed reduction time interval, it shall be reported to the stock exchange and announced within two trading days after the expiration of the reduction time interval.

Article 10 Where shares are reduced by agreement transfer, and the transferor of shares no longer has the status of major shareholder of a listed company, the transferor and transferee of shares shall continue to abide by the provisions of Article 8 and Paragraph 1 of Article 9 of these Provisions within 6 months after the reduction. Shareholders reduce their shares issued before the initial public offering of the Company and the shares issued privately by listed companies through agreement transfer. Within 6 months after the reduction, the transferor and transferee of shares shall continue to abide by the provisions of Paragraph 2 of Article 9 of these Provisions.