TJK Machinery shareholder plans to reduce stake

TJK Machinery (Tianjin) Co., Ltd. [SZSE:300823] announced that shareholder Chen Zhenhua plans to reduce her stake in the company by up to 2,173,802 shares, representing 1.66% of the total share capital. Chen Zhenhua currently holds 10,869,012 shares, or 8.30% of the company. The reduction will occur via centralized bidding or block trades within three months, starting 15 trading days after the announcement date. The reason given for the share reduction is personal financial needs. Chen Zhenhua, along with Chen Zhendong and Chen Zhensheng, are acting in concert and control the company. Post-reduction, Chen Zhendong will remain the controlling shareholder. The company asserts the plan aligns with relevant regulations and won't impact its governance or operations.