SF Holding: controlling shareholder donates 200m shares to employee plan

SF Holding's controlling shareholder, Shenzhen Mind Holdings Development Co., Ltd., has completed the gratuitous donation of 200,000,000 A-shares to the "Common Growth" employee stock ownership plan (A-shares) on September 17, 2025. This non-trading transfer represents approximately 4% of the company's current total share capital, with a fair value of approximately RMB 741,420 hundred million.

This transfer is part of broader equity changes occurring between November 28, 2024, and September 17, 2025. These changes also include an A-share stock option incentive plan, offshore H-share new share placement, cancellation of A-share repurchased shares, and the conversion of some bonds from the "24 Mind EB" exchangeable bond.

As a result of these combined actions, the total shareholding of Mind Holdings and its concert party, Shenzhen Weishun Enterprise Management Co., Ltd., in SF Holding has decreased from 2,661,927,139 A-shares (53.39%) to 2,461,920,119 A-shares (48.85%). Mind Holdings also reported 862,592,980 A-shares pledged, while Shenzhen Weishun has no pledged shares.