Zhejiang SF Oilless Bearing shares face shareholder reduction

Zhejiang Sf Oilless Bearing (SZSE:300817) announced that two of its shareholders, Jiasan Shunfei Equity Investment Management Co., Ltd. and Jiasan Tengfei Equity Investment Management Co., Ltd., intend to reduce their holdings in the company. Shunfei Investment, currently holding 10,526,910 shares (4.8223% of total shares), plans to offload up to 900,000 shares (0.4123%). Tengfei Investment, holding 7,949,550 shares (3.6416%), aims to reduce its stake by up to 1,200,000 shares (0.5497%). The sales will be made via centralized bidding after 15 trading days from the announcement date over the next three months, with price determined by market conditions but not below the initial public offering (IPO) price. The shareholders cite their own funding needs as the reason for the stock reduction. The company states that the planned reduction is a normal action and will not significantly impact its governance, equity structure, or control.