Beijing Andawell Science& Technology Co.Ltd(300719) : the two shareholders intend to reduce their total holdings of no more than 4.12% of the company’s shares

Beijing Andawell Science& Technology Co.Ltd(300719) announced on May 19 that the shareholder Beijing Beijing Andawell Science& Technology Co.Ltd(300719) Management Consulting Co., Ltd. (hereinafter referred to as the “consulting company”) and Xiong Tao, an executive of the company, plan to jointly reduce the shares of the company by no more than 4.12%. According to the reasons for the reduction, the announcement shows that the consulting company is the equity incentive shareholding platform for the backbone employees of the company before listing. This reduction is based on the needs of employees to obtain some funds to improve their quality of life, which is conducive to encouraging the backbone employees to better create value for the company; Xiong Tao’s reduction was due to personal capital needs.