Sinnet's shareholder completes reduction plan, stake dips below 24%

Beijing Sinnet Technology (SZSE:300383) announced that its controlling shareholder, Zhoushan Baihuida Venture Capital, has completed its previously disclosed share reduction plan. Between March 11 and June 6, 2025, Baihuida reduced its holdings by 53,768,350 shares, representing 2.99% of Sinnet's total share capital. The reductions were executed through a combination of centralized bidding and block transactions, with average selling prices of CNY17.94 and CNY12.90 per share respectively.