Desay SV Automotive shareholders plan to reduce holdings

Huizhou Desay SV Automotive (SZSE:002920) announced that shareholders Huizhou Innovation Investment Co., Ltd. (惠创投) and Shenzhen Shenhua Investment Group Co., Ltd. intend to reduce their holdings. 惠创投 plans to reduce its stake by no more than 16,400,000 shares, representing 3% of the company's current total share capital, due to its own capital needs. Shenhua Investment aims to reduce its holding by up to 7,980,268 shares, equivalent to 1.45% of the total share capital, also citing capital requirements. 惠创投, which currently holds 24.63% of the shares, may execute the reduction through block trades or standard trading. Shenhua Investment, holding 1.44% of the shares, may also use block trades or trading. The reduction period for 惠创投 is within three months after 15 trading days from the announcement date, and for Shenhua Investment, it's within three months after three trading days. Both shareholders have committed to adhering to relevant regulations and disclosing information in a timely manner. The company believes the planned reductions will not impact its control or operations.