Yueyang Xingchang Petrochemical shareholder reduces stake, triggers disclosure

Hunan Changlian Xingchang Group Co., Ltd. (Xingchang Group), acting in concert with major shareholder Hunan Changlian Xingchang Enterprise Services Co., Ltd. (Xingchang Enterprise Services), has reduced its holdings in Yueyang Xingchang Petrochemical. From August 20 to September 16, 2025, Xingchang Group sold 304,800 shares through concentrated bidding, representing 0.082% of the company's total share capital.

Following this reduction, the combined shareholding of Xingchang Group and Xingchang Enterprise Services decreased from 40,943,363 shares to 40,638,563 shares. Their aggregate ownership percentage changed from 11.075% to 10.998%, crossing the 1% integer multiple disclosure threshold. This transaction follows a prior announcement on July 1, 2025, regarding a planned reduction of up to 2,000,000 shares by Xingchang Group.

The company also noted an adjustment in its total share capital on September 3, 2025, from 369,697,506 shares to 369,504,506 shares, due to the repurchase and cancellation of 193,000 restricted shares held by two former employees under the 2022 Restricted Stock Incentive Plan.