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From November 22 to December 13, there were 6 large-scale transactions. The buyer was an institution and bought 8.7 million shares, accounting for 2.58% of the total shares. The seller was CITIC Securities Co., Ltd. Gansu Branch. This is still the business department of Gansu Construction Investment Group, because since its shareholding ratio dropped to 4.99% on November 21, it is no longer necessary to disclose it. Therefore, it can be speculated that, From October 22 to December 13, 2.37%+2.58%=4.95% of the shares sold through block transactions should all belong to Gansu Construction Investment Group, and the buyers are all the same institution or related institutions, so it can be seen that the buyers and the buyers should have discussed and planned it long ago.From November 22 to December 13, there were 6 large-scale transactions. The buyer was an institution and bought 8.7 million shares, accounting for 2.58% of the total shares. The seller was CITIC Securities Co., Ltd. Gansu Branch. This is still the business department of Gansu Construction Investment Group, because since its shareholding ratio dropped to 4.99% on November 21, it is no longer necessary to disclose it. Therefore, it can be speculated that, From October 22 to December 13, 2.37%+2.58%=4.95% of the shares sold through block transactions should all belong to Gansu Construction Investment Group, and the buyers are all the same institution or related institutions, so it can be seen that the buyers and the buyers should have discussed and planned it long ago.

If the above analysis is correct, that is to say, this institution will hold at least 4.95% by December 13, which means that placards will be issued at any time.

From November 22 to December 13, there were 6 large-scale transactions. The buyer was an institution and bought 8.7 million shares, accounting for 2.58% of the total shares. The seller was CITIC Securities Co., Ltd. Gansu Branch. This is still the business department of Gansu Construction Investment Group, because since its shareholding ratio dropped to 4.99% on November 21, it is no longer necessary to disclose it. Therefore, it can be speculated that, From October 22 to December 13, 2.37%+2.58%=4.95% of the shares sold through block transactions should all belong to Gansu Construction Investment Group, and the buyers are all the same institution or related institutions, so it can be seen that the buyers and the buyers should have discussed and planned it long ago.Gansu Construction Investment Group, the major shareholder with 7.36% of Zhongcheng shares, reduced its shareholding from 7.36% to 4.99% from October 22 to November 21, with a total reduction of 2.37%. According to the company's announcement on the change of shareholders' equity on November 22 and the large-scale transactions during this period, the receivers are all institutions.