Shaoneng Group's major shareholder reduces stake below 10%

Guangdong Shaoneng Group Co. announced on November 12, 2025, that Shenzhen Zhaoweihengfa Energy Co. (Shenzhen Zhaowei) has decreased its stake in the company. On November 10, 2025, Shenzhen Zhaowei sold 14,404,700 shares via block trading, representing 1.35% of the total share capital, or 1.37% after adjusting for repurchased shares. This transaction brought Shenzhen Zhaowei's total holding down from 10.35% to 9.00%.

The sale is part of a previously announced plan on October 17, 2025, to reduce its holdings by up to 3.00% of the adjusted share capital (31,444,050 shares) between November 10, 2025, and February 9, 2026. The funds for the sale originated from shares acquired through an agreement transfer.

Prior to this transaction, Shenzhen Zhaowei also engaged in several large block trades and concentrated bidding transactions between June 16, 2025, and July 9, 2025, selling 31,444,050 shares at an average price of 5.10 yuan. This previous reduction accounted for 3.00% of the adjusted share capital. Shenzhen Zhaowei currently has no plans for further increase or decrease in the next 12 months.