Zhengbang Technology to release 67.2m restricted shares next year

Jiangxi Zhengbang Technology Co., Ltd. announced that 67,214,964 restricted shares, representing 0.73% of the company's total share capital, will become publicly tradable on October 22, 2025. These shares stem from a restructuring process initiated on October 27, 2022, when the Nanchang Intermediate People's Court accepted the restructuring applications of the company's former controlling shareholder, Zhengbang Group Co., Ltd., and its concerted action party. The restructuring plan was approved on November 3, 2023.

The shares were part of a debt-for-equity swap, where Nanchang Xinzhengbang Enterprise Management Center (Limited Partnership) acquired 144.15 million shares at CNY 1.6 per share. Creditors receiving these shares were subject to a 12-month lock-up period from the date of registration. The 29 shareholders involved in this release include various financial institutions and investment firms.

Notably, three shareholders—China Everbright Bank Financial Asset Investment Co., Ltd., Industrial and Commercial Bank of China Jiangxi Branch, and Bank of Ganzhou Nanchang Branch—still hold 208,658 restricted shares that are not yet eligible for release. These shareholders are strictly adhering to their lock-up commitments.