Wangsu Science & Technology's top shareholder plans to reduce stake

Wangsu Science & Technology (SZSE:300017) announced that its largest shareholder, Chen Baozhen, plans to reduce her stake in the company. Chen Baozhen, who currently holds 261,062,924 shares, representing 10.67% of Wangsu's total share capital (or 10.68% after excluding repurchased shares), intends to reduce her holdings by no more than 12,219,769 shares. This represents 0.50% of the company’s total share capital (or 0.50% after excluding repurchased shares). The reduction will occur via centralized bidding and block trading between July 17, 2025, and October 16, 2025, following a 15-day waiting period from the announcement date. Chen cited personal financial needs as the reason for the share reduction, which comes from shares issued before the company's initial public offering. Wangsu stated that this reduction plan will not impact the company's governance structure or its continued operations.