Reasons for Weidong to Reduce Huafeng Microfiber Department

Personal financial needs. According to the progress announcement of Shanghai Huafeng Microfiber Technology Co., Ltd. on the plan to reduce the shares of the company's senior managers, Duan Weidong and Zhao Hongkai hold a total of 36,294,075 shares of the company, accounting for 2. 13% of the company's total share capital. The reason for the proposed reduction is personal capital demand, and the source of shares is the initial public offering of shares of listed companies.