Eastern Shenghong major shareholders increase stake, triggering 1% equity shift

Jiangsu Eastern Shenghong (SZSE:000301) announced that its controlling shareholder, Jiangsu Shenghong Science & Technology, and its concerted parties, including Shenghong Petrochemical Group and Shenghong (Suzhou) Group, have further increased their holdings in the company. From February 27, 2025, to May 7, 2025, the entities collectively acquired 66,112,245 shares, representing 1% of the total share capital. This move is part of a previously announced plan to increase holdings by between CNY 2 billion and CNY 4 billion. Following the latest transactions, the controlling shareholder and its concerted parties now directly hold 4,429,519,182 shares, accounting for 67% of the company's total share capital. The company states the move reflects confidence in its long-term prospects.