Xinhu Zhongbao shareholder halts divestment plan early

Zhejiang Xinhu Group, a major shareholder of Xinhu Zhongbao, terminated its share reduction plan ahead of schedule after selling only 42.3 million of a planned 110 million shares.

The shareholder sold 0.497% of the company through block trades at prices ranging from 2.86 to 3.66 yuan per share, raising 135.8 million yuan. The remaining 67.7 million shares were not sold.

Xinhu Group now holds 6.19% of Xinhu Zhongbao directly, while its controllers and related parties collectively hold 28.02%.