China Fortune Land Development shareholder reduces stake below 25%

China Fortune Land Development (CFLD) announced that its over 5% shareholder, Ping An Life Insurance Company of China, Ltd., and its concerted parties, including Ping An Asset Management Co., Ltd., reduced their combined stake in the company. From October 20 to October 21, 2025, the entities collectively sold 7,815,487 shares through centralized bidding, representing 0.20% of CFLD's total share capital.

Following the reduction, the combined shareholding of Ping An Life Insurance and its concerted parties decreased from 25.19% to 24.99%, triggering the 5% ownership threshold. The transaction was part of a previously disclosed share reduction plan.

CFLD emphasized that this equity change is a business arrangement by the over 5% shareholder and will not materially affect its corporate governance structure, ongoing operations, or lead to a change in the controlling shareholder or actual controller.