Secote Precision Electronic shareholders plan to reduce holdings

Suzhou Secote Precision Electronic (SSE:603283) announced that major shareholders Sun Feng and Zeng Hui intend to reduce their holdings in the company. According to the announcement, Sun Feng and Zeng Hui each plan to reduce their holdings by no more than 2,998,600 shares, representing 1.50% of the company's total share capital. The reductions will occur via centralized bidding and block trading within a three-month period, starting 15 trading days after the announcement date, running from May 30, 2025, to August 29, 2025. The planned reductions are due to personal capital needs. As of the announcement date, Sun Feng directly holds 40,501,556 shares, representing 20.26% of the company's total share capital, while Zeng Hui directly holds 40,242,511 shares, representing 20.13%. The company noted that the reductions may result in a change of control.