Chunfeng Power controlling shareholder reduces stake, crosses disclosure threshold

Zhejiang Cfmoto Power announced that its controlling shareholder, Chunfeng Holding Group Co., Ltd., and its persons acting in concert, including Chongqing Chunfeng Investment Co., Ltd., Lin Axi, and Lai Xuehua, have reduced their combined equity interest, triggering the 5% threshold. Their total shareholding decreased from 40.85% to 40.00% between November 4 and November 18, 2025, through block trades. This reduction amounted to 1,293,462 shares, representing 0.85% of the company's total share capital.

The divestment by Chunfeng Holding Group Co., Ltd., Chongqing Chunfeng Investment Co., Ltd., Lin Axi, and Lai Xuehua concludes a previously disclosed share reduction plan. Chunfeng Holding Group Co., Ltd. sold 1,946,462 shares for a total of yuan 441,125,274.62, while Chongqing Chunfeng Investment Co., Ltd. sold 600,000 shares for yuan 141,226,800.00. Lin Axi sold 150,000 shares for yuan 35,476,200.00, and Lai Xuehua sold 60,000 shares for yuan 14,217,600.00.

The company confirmed that this equity change will not alter the controlling shareholder or actual controller and will not significantly impact the company’s governance structure or ongoing operations. The aggregate shareholding of the concerned parties was 43.2505% before this series of transactions and is now 40.0000%.