Shaoneng Group shareholder to cut 3% stake over three months

Shenzhen Zhaowei Hengfa Energy Co., Ltd., which holds 10.20% of Guangdong Shaoneng Group's total share capital, has announced a plan to reduce its stake. The company intends to divest 31,444,050 shares, representing 3.00% of the adjusted share capital. This sale will occur over a three-month period, from November 10, 2025, to February 9, 2026, through block trades and concentrated bidding.

The shares will be sold at market prices, within a range of 3 yuan to 10 yuan per share. The estimated proceeds from block trades are 136.2576 million yuan, and from concentrated bidding, 68.1288 million yuan. Shenzhen Zhaowei Hengfa Energy cites capital turnover needs as the reason for the reduction.

The company confirmed that this share reduction is a normal activity and will not result in a change of control or have an adverse impact on the company's governance or operations. The shareholder currently holds 110,168,096 shares in Guangdong Shaoneng Group.