Overview: The report details recent changes in share ownership among key stakeholders of the company, with a specific focus on the decrease in holdings by major investors King Bridge Investments Limited and Success Growth Limited. This report covers the holding reductions that were recorded between June 10, 2025, and June 18, 2025, and assesses their implications for the company.

Key Financials: The ownership percentage of King Bridge Investments Limited declined from 8.08% (9,386.31 million shares) to 7.54% (8,482.35 million shares), while Success Growth Limited saw a reduction from 2.75% (4,852.89 million shares) to 2.73% (4,807.69 million shares). In total, the two investors reduced their holdings by approximately 949.16 million shares.

Management Commentary: Although there has been a decrease in shareholding, management remains focused on maintaining a stable governance structure. The holding reductions did not trigger any takeover obligations, which reflects a measured response from the shareholders and suggests that their commitments to the company's long-term strategies remain intact.

Trends and Drivers: The number of shares held by these investors decreased during a period which may reflect the broader trends in the investment landscape. However, the reduction in ownership does not signify distress but could indicate an adjustment in portfolio diversification strategies by these investors.

Risks and Outlook: While the changes in shareholding do not currently pose risks to the company's control or governance, vigilance is necessary for future shifts in shareholder structure. Stakeholders should continue to monitor potential impacts on the company's governance and operational strategies.

Conclusion: In summary, the report highlights a strategic reduction in shareholding by major investors while ensuring that the governance and operational integrity of the company remain sound. As there are no critical shifts in control, the company is well-positioned to pursue its objectives without disruption.