Advanced Fiber Resources shareholders halt early share reduction plans

Advanced Fiber Resources (Zhuhai) announced the early termination of share reduction plans by several key shareholders and executives. XL Laser (HK) Limited, senior management member Gui Guijun, and supervisor Zhou Chunhua had planned to reduce their holdings. XL Laser (HK) Limited intended to sell up to 800,000 shares, Gui Guijun planned to reduce 30,000 shares, and Zhou Chunhua intended to sell 4,000 shares.

As of the announcement date, XL Laser (HK) Limited, Gui Guijun, and Zhou Chunhua have not sold any shares and have now terminated their plans. Senior management member Wu Wei, who had also planned to sell 60,000 shares, sold 17,000 shares at a price of 49.49 yuan per share before also terminating his remaining plan. This leaves his total holdings at 230,000 shares, representing 0.0923% of the company's total share capital.

The company affirmed that the early termination of these plans complies with relevant laws and regulations and will not alter the company's control, governance, equity structure, or continuous operations. Advanced Fiber Resources is currently in the process of a major asset restructuring, including issuing shares and convertible bonds, and a cash acquisition, which is still ongoing. The company noted that the current share reduction plan was initially disclosed before the major asset restructuring announcement.