Snibe Diagnostic: major shareholders, executives announce share sale plans

Shenzhen New Industries Biomedical Engineering Co., Ltd. (Snibe Diagnostic) announced share reduction plans by its major shareholder, Tianjin Sequoia JuYe Equity Investment Partnership, director Rao Jie and senior manager Liu Haiyan. Tianjin Sequoia, an early investor since 2011, intends to sell up to 14,500,000 shares (1.8454% of total share capital) via block trades within three months following a 15-trading-day grace period.

Rao Jie plans to offload up to 1,500,000 shares (0.1909% of total share capital) through block trades or centralized bidding, and Liu Haiyan will reduce her holdings by up to 100,000 shares (0.0127% of total share capital) via centralized bidding. Both executives will also commence their sales after a 15-trading-day period, within the subsequent three months. The reductions are attributed to personal capital needs and are subject to market conditions.

The company stated that these shareholders are not controlling shareholders, and the planned reductions will not alter the company's control structure or impact its ongoing operations. All parties have affirmed their commitment to fulfilling previous lock-up and reduction-related pledges.