Shanghai Phichem's major shareholders' equity change triggers 1% shift

Shanghai Phichem Material (SZSE:300398) announced that the combined shareholding of its controlling shareholder, Phichem Holdings, and its persons acting in concert, including ZHANG JUSTIN JICHENG, ZHANG ALAN JIAN, Zhang Yanxia, and Xia Shifeng, decreased by 1.33% from 23.92% to 22.59%. The change, triggering a disclosure, stems primarily from the conversion of convertible bonds increasing the company's total share capital and the completed buyback of shares, passively diluting their holdings by 1.19%. In addition, Phichem Holdings and Zhang Yanxia reduced their holdings by 673,534 shares between December 8 and December 13, 2022.