Major shareholder plans to reduce stake in tech firm

Shenzhen Kstar Science and Technology has announced that its controlling shareholder, Ningbo Kstar Venture Capital Partnership, intends to reduce its stake in the company. The pre-disclosure announcement reveals plans to potentially decrease holdings by up to 5,822,200 shares, representing 1.73% of the company's total share capital. The sale will occur through either block trades or open market transactions, and is planned to commence 15 trading days after the announcement, spanning a three-month period. Ningbo Kstar currently holds 336,284,260 shares, or 57.76% of the company's total equity. The shareholder's decision is based on its own capital needs, and the company does not anticipate the move will impact its governance or operations.