Kinwong Electronics' key shareholders plan share reductions

Shenzhen Kinwong Electronic announced its controlling shareholders and actual controllers intend to reduce their holdings in the company. Specifically, Jinghong Yongtai plans to reduce its shareholding by no more than 13,689,101 shares, equivalent to 1.4642% of the total share capital. Zhichuang Investment aims to reduce its stake by no more than 13,987,986 shares, or 1.4961% of the total. Actual controller and chairman Liu Shaobai intends to reduce his holdings by a maximum of 159,601 shares. Concurrently, director Huang Xiaofen will also reduce hers by 139,285 shares. The reduction methods include both centralized bidding and block trading and will occur between June 16, 2025, and September 15, 2025. The shareholders cite their own operating needs and capital demands as the reasons for the share reductions.