Zongshen Power: Share reduction plan concludes, holdings shift

Chongqing Zongshen Power Machinery (SZSE:001696) announced the completion of the previously disclosed share reduction plan for shareholders holding over 5% of the company's shares and its directors. Xizang Guolong Technology, a major shareholder, reduced its holdings by 20,939,700 shares, representing 1.8288% of the company's total share capital. This reduction was executed through both centralized bidding and block transactions between May 7 and June 18, 2025. The average selling prices were CNY 21.49 per share for centralized bidding and CNY 19.73 per share for block trades. Company director, Li Yao, also reduced his holdings by 42,425 shares, representing 0.0037% of total share capital, through centralized bidding at an average price of CNY 21.70 per share. Following these transactions, Xizang Guolong Technology's stake decreased from 18.1118% to 16.2830% of the total share capital, while Li Yao's stake decreased to 0.0111%. The company confirms that this share reduction will not affect its control or governance structure.