Tuopu Group's controller reduces stake by over 1%

Ningbo Tuopu Group announced that its actual controller, Wu Jianshu, and his concerted parties, including Wu Haonian, Ningbo Zhurong Investment Management Co., Ltd., and Ningbo Paishi Real Estate Co., Ltd., reduced their total shareholding in the company. Between August 29 and September 10, 2025, these parties collectively sold 13,430,021 shares, representing 0.7728% of the company's total shares.

Following this reduction, their combined stake decreased from 59.2548% to 58.4820%, marking an equity change that crossed the 1% threshold. The largest individual reduction by Wu Jianshu involved 299.829m shares, decreasing his direct holding from 0.69% to 0.52%. All sales were executed through centralized bidding.

The company confirmed that this equity change aligns with previously disclosed reduction plans and does not trigger a mandatory tender offer. It also stated that the change will not affect the company’s controlling shareholder, actual controller, governance structure, or ongoing operations.