China Capital Holdings cuts stake in Shanxi Zhangze Electric Power below 5%

China Capital Holdings (Beijing) Asset Management Co., Ltd. has reduced its stake in Shanxi Zhangze Electric Power, ceasing to be a shareholder holding 5% or more of the company's shares. As of October 13, 2025, China Capital Holdings' aggregate holdings are 153,847,043 shares, representing 4.9999% of the total share capital. This equity change did not trigger a tender offer and will not alter the company’s controlling shareholder or actual controller.

The reduction was primarily carried out through block trades on the stock exchange, totaling 20,996,050 shares, which represents a 0.68% change in equity interests. China Capital Holdings stated the purpose of this equity change is to meet its strategic development and business planning needs.

Between April 13, 2025, and October 13, 2025, China Capital Holdings cumulatively reduced its holdings by 122,396,050 shares, representing a 3.98% change in equity. China Capital Holdings does not plan to increase its holdings in Shanxi Zhangze Electric Power within the next 12 months and may continue to reduce its holdings.