Baowu Magnesium executive plans significant share reduction for personal needs

Baowu Magnesium Technology Co. (Baowu Magnesium) announced that its board secretary, Wu Jianfei, intends to reduce her holdings in the company. Wu currently holds 3,353,571 shares, representing 0.34% of the company's total share capital. She plans to divest up to 700,000 shares, equivalent to 0.07% of the total share capital or 25% of her current holdings.

The proposed share reduction will be conducted through centralized bidding or block trading. The selling period is set for three months, commencing 15 trading days after the announcement's disclosure, specifically from October 27, 2025, to January 26, 2026. The reasons cited for this transaction are personal financial needs, and the shares originate from those held before the company's initial public offering and their derivatives. The selling price will be determined by market conditions at the time of sale.

This plan aligns with existing commitments by senior management, including the restriction on annual share transfers not exceeding 25% of their total holdings. The company confirms that this planned reduction will not affect its control or ongoing operational structure.