Allied Machinery: Concerted action parties plan to reduce their holdings by no more than 2.37%

Allied Machinery announced that one of its controlling shareholders, the concerted actors Huzhou Xuteng, Hangzhou Jiayang, Huzhou Shuoyi, and Huzhou Xunjia, plan to reduce their holdings in the company within the next three months, with a total reduction not exceeding 5.688 million shares, which is no more than 2.37% of the total shares of the company. The reduction will be conducted through centralized bidding and block trading, with the centralized bidding reduction not exceeding 2.4058 million shares, accounting for 1% of the company's total share capital, and the block trading reduction not exceeding 3.2822 million shares, accounting for 1.37% of the company's total share capital. The reduction price will be determined based on market prices. This reduction plan is due to the funding needs of employees, and the reducing entities are all employee shareholding platforms of the company