Net263 controlling shareholder to reduce stake

Net263 (SZSE:002467) announced that its controlling shareholder, Li Xiaolong, intends to reduce his stake in the company. Li Xiaolong, who currently holds 203,221,185 shares representing 14.78% of the total share capital, plans to reduce his holdings by no more than 13.75 million shares, representing 1% of the total share capital. The reduction will occur via centralized competitive bidding within a three-month period, starting fifteen trading days after the announcement date. The reason cited for the share reduction is personal financial needs. The price range for the reduction will be determined by prevailing secondary market prices at the time of the transactions. The company stated that the reduction plan aligns with existing regulations and will not impact the company’s governance or control.