On February 23rd, Zhaomin Technology announced that the company has recently received a reduction notice letter from the companies controlled by the actual controller, Ningbo Baizhao and Ningbo Huazhao. Ningbo Baizhao plans to reduce its holdings by no more than 1% of the company’s shares, while Ningbo Huazhao plans to reduce its holdings by no more than 2% of the company’s shares.
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