Shenzhen SC New Energy faces share reduction by key stakeholders

Shenzhen SC New Energy Technology Corp (SZSE:300724) announced that its controlling shareholder, Yu Zhong, and his associate Jiang Zeyu, intend to reduce their holdings in the company. Yu Zhong plans to reduce his stake by no more than 1,734,000 shares (0.50% of the total share capital) through block trades. Jiang Zeyu plans to reduce his stake by no more than 968,000 shares (0.28% of the total share capital) through competitive bidding and no more than 5,203,000 shares (1.50% of the total share capital) through block trades. The reduction period will be from June 10, 2025, to September 9, 2025. The decision is driven by the shareholders' personal funding needs. The company has stated that this reduction plan will not impact control of the company.