Jiangsu Zhongcheng Gaoke shareholder reduces stake below 5%

Jiangsu Zhongcheng Gaoke Environmental Co., Ltd. announced that its major shareholder, Xu Xiaobin, completed a share reduction plan that ran from July 4, 2025, to September 30, 2025. During this period, Mr. Xu reduced his holdings by 1,055,000 shares through concentrated bidding, representing 0.85% of the company's current total share capital. The shares were sold at an average price of CNY 19.09 per share, within a range of CNY 18.26 to CNY 20.68.

Prior to the reduction, Mr. Xu held 6,240,000 shares, equivalent to 5.00% of the company's total share capital. Following the completion of the plan, his stake decreased to 5,185,000 shares, or 4.16% of the total share capital. This change means Mr. Xu is no longer a shareholder holding 5% or more of the company's shares.

The company confirmed that the reduction plan adhered to relevant securities regulations and did not involve any change in company control or impact its governance structure and continuous operations. As of the announcement date, 3,000,000 of Mr. Xu’s remaining shares, representing 57.86% of his current holdings or 2.40% of the company’s total share capital, are pledged.