Pingtan Development addresses abnormal stock trading, revises policies

Zhongfu Straits Pingtan Development announced abnormal stock trading, with its share price deviating by over 20% in three consecutive trading days (October 28-30, 2025). The company confirmed no recent changes in operations or external environment, no new public media reports, and no share trading by the controlling shareholder or actual controller during this period. The company will disclose its Q3 2025 report on October 31, 2025, and reminded investors to exercise caution.

In related announcements, the company proposed changes to its business scope, including the addition of "manufacture of man-made boards" and "sale of chemical fertilizers" to its general business. These changes, along with revisions to the articles of association, are subject to shareholder approval by special resolution. The proposed amendments to the articles of association reflect updated legal requirements and refine internal governance structures, including provisions for director and independent director qualifications, shareholder meeting procedures, and information disclosure policies.

Further changes include updates to the company’s internal controls and information disclosure management. The company also announced a share buyback program, with 56,191,215 yuan already spent, and a revised dividend distribution policy aimed at stable growth and investor returns.