Zhejiang Shibao's controlling shareholder completes share reduction plan

Zhejiang Shibao Co., Ltd. announced today that its controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd., has completed its previously disclosed share reduction plan. Between September 19 and November 11, 2025, Shibao Holding reduced its stake by 16,452,647 A-shares through block trades, representing 2% of the company's total share capital. The average reduction price was RMB 11.89 per share.

Prior to the reduction, Shibao Holding held 287,110,598 A-shares, or 34.90% of the total share capital. Following the completion of this plan, its holding has decreased to 270,657,951 A-shares, or 32.90% of the total share capital.

The company affirmed that the implementation of this share reduction plan will not lead to a change in the listed company's control or adversely affect its corporate governance structure and continuous operations.