Wanxiang doneed's controlling shareholder yet to buy shares in increase plan

Wanxiang Sannong Group Co., Ltd., the controlling shareholder of Wanxiang Doneed, announced its plan to increase its stake in the company by a total of 25 million to 50 million yuan, not exceeding 2% of the company's total share capital. The share increase period commenced on May 14, 2025, and is scheduled to conclude on May 13, 2026. The shares will be acquired through centralized bidding on the Shanghai Stock Exchange, with no pre-set price range.

As of November 13, 2025, midway through the implementation period, Wanxiang Sannong Group has not yet purchased any shares. The company stated this is due to a phased implementation strategy, and the group will proceed with the share increase as planned. Wanxiang Sannong Group currently holds 142,650,135 shares, representing 48.76% of Wanxiang Doneed's total share capital.

The company highlighted potential risks, including market fluctuations and other unforeseen factors that could impact the plan's successful completion. Wanxiang Doneed will continue to monitor the implementation of the share increase plan and fulfill its information disclosure obligations in accordance with relevant regulations.