Hengyi Petrochemical shareholder increases stake by 1%

Hengyi Petrochemical (SZSE:000703) announced that its controlling shareholder, Hengyi Group, increased its holdings in the company by 33,251,480 shares between January 25, 2025, and April 8, 2025, representing 1.01% of the company’s total share capital. The transactions were conducted through the Shenzhen Stock Exchange trading system via concentrated bidding. The total consideration for the increased shares amounted to CNY 19,580.43 (excluding transaction fees). Following the increase, Hengyi Group's total stake, along with its concerted action party Hangzhou Hengyi Investment, now stands at 54.07%, with a total of 178,461,91 shares. The move comes as Hengyi Group expressed confidence in the company's future and a desire to boost investor confidence, as well as is aligned with the original share increase plan announced in December 2024, with the initial intention being to increase holdings by between CNY 25,000,000 and CNY 50,000,000 at no more than CNY 9 per share.