Zongshen Power shareholder reduces stake by 1%

Chongqing Zongshen Power Machinery (SZSE:001696) announced that shareholder Tibet Guolong Technology reduced its stake in the company by 1%, according to a disclosure released on June 11, 2025. Between May 7, 2025, and June 9, 2025, Tibet Guolong Technology decreased its holdings by 5,690,000 shares through centralized bidding and block trades. This represents 0.4969% of the company's total share capital. Following the transaction, Tibet Guolong Technology now holds 201,694,700 shares, accounting for 17.6148% of Zongshen Power's total share capital. The shareholder had previously announced intentions to reduce its holdings on February 27, 2025. The company stated that the change in equity will not cause a change in the company's control or have a significant impact on its corporate governance.