Vantone Development: Share reduction plan concludes, stake reduced

Beijing Vantone Development (SSE:600246) announced the completion of Hesheng Wealth's share reduction plan. Between February 28 and May 12, 2025, Hesheng Wealth reduced its holding in Vantone Development through both block trades and open market sales. Specifically, 19,169,060 shares were sold via centralized bidding at an average price between CNY4.93 and CNY7.19 per share, generating CNY107,303,066.62. An additional 14,370,000 shares were disposed of through block trades at between CNY5.00 and CNY5.66 per share, realizing CNY76,125,300. As a result, Hesheng Wealth’s stake in Vantone Development has fallen from 5.18% to 3.43%, totaling 65,830,038 shares, concluding the announced reduction plan. The initial plan allowed for a maximum reduction of 3% of the total share capital, which was not fully exhausted.