Joyson Electronics' controlling shareholder stake diluted post-H share listing

Ningbo Joyson Electronic Corp announced on November 7, 2025, that the aggregate shareholding of its controlling shareholder, Joyson Group Co., Ltd., and its concerted party, Mr. Wang Jianfeng, has been passively diluted. This occurred after the company's H-share listing on the Hong Kong Stock Exchange on November 6, 2025, which increased the total share capital from 1,395,670,563 shares to 1,550,770,563 shares (assuming no over-allotment option exercised).

Consequently, their combined stake decreased from 39.85% to 35.86%, triggering a 1% threshold. Joyson Group's individual stake also crossed a 5% integer multiple, falling from 37.31% to 33.57%. The company emphasized that this change does not affect the controlling shareholder, actual controller, corporate governance structure, or ongoing operations, and does not trigger a mandatory tender offer.

The H-share offering involved 155,100,000 shares (before over-allotment) at HK$22 per share, raising approximately HK$3.253 bn net proceeds. This passive dilution is solely due to the increase in the company's total share capital.