Shanghai Waigaoqiao: 202m restricted shares to become tradable

Shanghai Waigaoqiao Free Trade Zone United Development announced that 202,979,067 restricted shares issued to specific targets will become tradable on October 27, 2025. These shares, representing 14.93% of the company's total share capital, were part of a larger issuance of 224,563,094 ordinary shares approved by the China Securities Regulatory Commission. The company's total share capital remains unchanged at 1,359,912,218 shares.

The restricted shares were issued to several institutional investors. Shanghai Waigaoqiao Asset Management Co., Ltd. and Shanghai Pudong Innovation Investment Development (Group) Co., Ltd. are subject to an 18-month lock-up period, while other investors, including Shanghai Infrastructure Construction Development (Group) Co., Ltd., China Galaxy Asset Management Co., Ltd., and China Orient Asset Management Co., Ltd., have a six-month lock-up period.

CITIC Securities Co., Ltd., acting as the sponsor, confirmed that the release of these restricted shares complies with relevant laws and regulations, and all shareholders have fulfilled their lock-up commitments. Following this release, the number of restricted shares will decrease to 21,584,027, and unrestricted shares will increase to 1,338,328,191.