Tianjin Chase Sun Pharmaceutical: Major shareholder and executives to reduce stakes

Tianjin Chase Sun Pharmaceutical announced that its major shareholder, Yao Xiaoqing, and senior management personnel, Chen Ruiqiang and Zhang Kun, plan to reduce their shareholdings. Yao Xiaoqing, who currently holds 10.0000% of the total share capital, intends to reduce his stake by up to 46,936,332 shares, or 1.5624% of the total share capital. This reduction will occur via centralized bidding or block trading.

Additionally, Chen Ruiqiang, holding 0.0226% of the total share capital, plans to reduce up to 169,000 shares (0.0056%), while Zhang Kun, with 0.0310% of the total share capital, aims to reduce up to 232,000 shares (0.0077%). These senior management reductions will be conducted through centralized bidding. The reasons cited for these reductions are personal financial needs.

The reduction period for all parties is set for three months starting fifteen trading days after the announcement date. All proposed reductions are within the regulatory limits for senior management, not exceeding 25% of their respective current holdings. The company clarified that these reductions will not impact its control or governance structure, as Yao Xiaoqing, Chen Ruiqiang, and Zhang Kun are not controlling shareholders or actual controllers.