Jiangsu Xinquan controller plans to reduce stake for personal capital needs

Jiangsu Xinquan Automotive Trim Co., Ltd. (SSE:603179) announced that Mr. Tang Zhihua, one of its actual controllers, plans to reduce his shareholding. Mr. Tang, who currently holds 54,007,460 shares, representing 11.08% of the company's total share capital, intends to sell up to 9,746,074 shares. This reduction represents approximately 2.00% of the company's total share capital and 18.05% of his current holdings.

The share reduction will occur between September 30, 2025, and December 28, 2025, through centralized bidding and block trades. Each method will account for up to 4,873,037 shares. The shares originated from the company's IPO and capital reserve transfers.

The proposed sale is attributed to Mr. Tang Zhihua's personal capital needs. The company has stated that this reduction is a normal market behavior and is not expected to impact the company's governance structure or ongoing operations, nor will it lead to a change in the company's control.