Nanxing Machinery shares drop after stake reduction

Nanxing Machinery (SZSE:002757) announced that its controlling shareholder, Dongguan Nanxing Industrial Investment Co., Ltd., and a party acting in concert with the actual controller, Mr. Zhan Renning, reduced their stake in the company. On February 14, 2025, Nanxing Industrial decreased its holdings by 395,000 shares through block trading, representing 0.13% of the total share capital. Separately, Mr. Zhan Renning reduced holdings by 1,540,000 shares through centralized bidding between January 27 and February 14, 2025, accounting for 0.52% of the total share capital. The combined reduction totals 1,935,000 shares, or 0.65% of the company's total equity. Following these transactions, the controlling shareholder and its affiliates now hold 43.89% of Nanxing Machinery's shares. The company confirmed that the share reduction aligns with previously disclosed plans.