Jingda's controller plans significant share reduction

Tongling Jingda Special Magnet Wire Co. Ltd. announced that its actual controller, Mr. Li Guangrong, intends to reduce his shareholding in the company by up to 64.3 million shares, representing no more than 3% of the company's total share capital. The proposed reduction will be executed through both centralized bidding and block trades, with a cap of 1% via centralized bidding and 2% via block trades.

The planned reduction period is set to commence 15 trading days after the announcement's release (October 17, 2025) and will extend for three months. Currently, Mr. Li Guangrong directly holds 83.3 million shares, accounting for 3.88% of the total share capital. Including shares held by his consistent acting parties, Tehua Investment Holdings Co. Ltd. and Guangzhou Tehua Investment Management Co. Ltd., their combined stake is 199.3 million shares, or 9.27% of the total.

The company anticipates that after the planned reduction, Mr. Li Guangrong and his consistent acting parties will collectively hold 135 million shares, reducing their total stake to 6.28%. This reduction is driven by Mr. Li Guangrong's personal capital requirements and is not expected to significantly impact the company's ongoing operations. Investors are advised to note the potential for increased stock volatility due to the sale.