Zhang Yuan Tungsten Industry announced that on November 7 and December 3, 2025, the controlling shareholder Zhang Yuan Holdings reduced its holdings of the company's shares by 8.297 million shares and 5.5622 million shares respectively through bulk transactions, reducing holdings by a total of 13.8529 million shares, accounting for 1.1530% of the company's total share capital. After this equity change, the total shareholding ratio of Zhang Yuan Holdings and its co-actor, Huang Shichun, fell from 58.7742% to 57.6212%, hitting an integer multiple of 1%. This reduction in holdings is consistent with the previous disclosure plan, and will not adversely affect the company or lead to a change in control.

Zhang Yuan Tungsten Industry announced that on November 7 and December 3, 2025, the controlling shareholder Zhang Yuan Holdings reduced its holdings of the company's shares by 8.297 million shares and 5.5622 million shares respectively through bulk transactions, reducing holdings by a total of 13.8529 million shares, accounting for 1.1530% of the company's total share capital. After this equity change, the total shareholding ratio of Zhang Yuan Holdings and its co-actor, Huang Shichun, fell from 58.7742% to 57.6212%, hitting an integer multiple of 1%. This reduction in holdings is consistent with the previous disclosure plan, and will not adversely affect the company or lead to a change in control.