Zhejiang Shibao controlling shareholder plans shareholding reduction

Zhejiang Shibao Company Limited (HKEX:1057) announced that its controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd., plans to reduce its shareholding by no more than 8,226,323 A shares, representing a maximum of 1% of the company's total share capital. The reduction will occur within three months after 15 trading days from the announcement date, between July 10, 2025, and October 7, 2025, via centralized bidding and block trading. As of the announcement date, Shibao Holding holds 295,336,898 A shares, accounting for 35.90% of Zhejiang Shibao's total share capital. The rationale for the reduction is the shareholder's own capital requirements.