Guanfu Holdings: Stake increase triggers exemption from tender offer

Guanfu Holdings (SZSE:002102) announced that the cancellation of 1,255,800 shares repurchased in prior years was completed on February 14, 2025. This action reduced the company's total share capital from 2,633,836,290 to 2,632,580,490 shares. Consequently, the combined shareholding of the controlling shareholder, Hubei Jingjiang Industrial Investment Group, and its concert parties has passively increased from 29.9999997% to 30.0143104%. This triggered provisions under relevant regulations that allow for an exemption from a mandatory tender offer. The company confirmed that the actual number of shares held by these parties remains unchanged and there has been no shift in the company's control structure. Guanfu Holdings is proceeding with a separate share repurchase plan, announced on February 12, 2025, with a budget between 300 million and 500 million RMB for shares to be cancelled.