Toreto New Energy: Controlling shareholder Aoxin Investment plans to reduce holdings by no more than 3%

Tuori New Energy Announcement: The company’s controlling shareholder, Shenzhen Aoxin Investment Development Co., Ltd., plans to reduce its holdings by no more than 42,249,000 shares, accounting for 3% of the company’s total share capital after deducting shares repurchased into the dedicated securities account. The reduction will occur within three months after the disclosure of this reduction plan, through centralized bidding and block trades. The shareholder will comply with the regulations that limit the reduction to no more than 1% of total shares via centralized bidding and no more than 2% via block trades within any 90 consecutive natural days. The reduction price will be determined based on market prices. This reduction will not affect the company’s control.