Sinexcel shareholding diluted: Controlling stake nears 1% threshold

Shenzhen Sinexcel Electric (SZSE:300693) announced that the shareholding of its controlling shareholder and actual controller, Xing Fang, experienced passive dilution, reaching the 1% threshold. As a result of the company's stock issuance to incentive recipients, Xing Fang's stake decreased from 18.0217% to 17.9232%. The company clarified that this change does not involve any shareholding reduction by the controlling shareholder nor trigger any takeover offer. Furthermore, Shenzhen Sinexcel Electric states that the dilution won't impact the company's governance structure or its continued operations. The company confirmed that as of April 14, 2025, the total number of shares was 312,795,823, up from 311,085,410 on March 28, 2025.