Tianfeng Securities: Controlling shareholder completes CNY 501.87m stake increase

Tianfeng Securities (SSE:601162) announced that Hubei Hongtai Group, its controlling shareholder, has completed its previously disclosed plan to increase its stake in the company. Since the initial announcement on June 11, 2024, Hongtai Group has acquired 178,672,135 shares of Tianfeng Securities' A-shares through the Shanghai Stock Exchange's trading system. This represents 2.06% of the company’s total share capital. The total amount of the shareholding increase was approximately CNY 501.87 million (excluding taxes and fees). Separately, Tianfeng Securities announced that its wholly-owned subsidiary received CNY 32.56 million in government subsidies. This amounts to 109.60% of the company’s 2024 net profit attributable to shareholders.