East Group's largest shareholder plans significant stake reduction

Yangzhou Oriental Group Co. Ltd., the largest shareholder of East Group (SZSE:300376), plans to reduce its holdings by up to 68,885,007 shares, representing 3.00% of the company's total share capital after excluding repurchased shares. This move aims to repay stock pledge financing and further lower its pledge ratio. The reduction will occur within three months following a 15-trading-day grace period from the announcement date.

The planned share reduction will be executed through both centralized bidding and block trading. Up to 22,961,669 shares (1.00% of total share capital after excluding repurchased shares) will be sold via centralized bidding, and up to 45,923,338 shares (2.00%) will be sold through block trading. The selling price will be determined by market conditions at the time of the transaction.

This reduction will not alter East Group's controlling ownership or impact its corporate governance and ongoing operations. Yangzhou Oriental Group holds 738,827,828 shares, or 32.1766% of the company's total share capital after excluding repurchased shares.