Zhejiang Shibao's controlling shareholder reduces stake, ownership shifts

Zhejiang Shibao's controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd. ("Shibao Holding"), along with its concert parties, has announced a reduction in their equity in the company. Through block trades on September 22 and 23, 2025, Shibao Holding sold 12,360,747 A-shares, representing 1.50% of the company's total share capital. This transaction has triggered a 1% integer multiple change in their shareholding, specifically from 38% to 37%.

Following this reduction, the combined holdings of Shibao Holding and its concert parties decreased from 38.11% to 36.61% of Zhejiang Shibao's total share capital, amounting to 301,141,431 A-shares. This divestment is consistent with a previously disclosed plan on August 29, 2025, to reduce shareholdings by up to 16,452,647 A-shares over three months.

The announcement confirms that the partial execution of the share reduction plan aligns with the company's prior disclosures and commitments. As of the announcement date, the overall reduction plan has not been fully completed.