Shaoneng Group shareholder reduces stake, triggering disclosure threshold

Shenzhen Zhaowei Hengfa Energy Co., Ltd. (Shenzhen Zhaowei), a shareholder of Guangdong Shaoneng Group Co., Ltd., has reduced its stake, triggering a cumulative change in equity reaching an integer multiple of 1%. This follows a pre-disclosure announcement on October 17, 2025, detailing a planned reduction of 31,444,050 shares, or 3.00% of the company's total share capital after deducting shares in the buyback special account. On November 7, 2025, the company completed the cancellation of 16,208,345 repurchased shares, bringing its total share capital to 1,064,343,324 shares.

Between November 11 and November 17, 2025, Shenzhen Zhaowei sold a total of 6,560,000 shares through block trades (4,347,000 shares) and concentrated bidding (2,213,000 shares), representing 0.62% of the total share capital or 0.63% after buyback adjustments. This reduced Shenzhen Zhaowei's holdings from 9.00% to 8.38% of the total share capital (or from 9.14% to 8.51% after buyback adjustments).

Including an additional 14,404,700 shares sold via block trade on November 10, 2025, Shenzhen Zhaowei's cumulative reduction from November 10 to November 17, 2025, totals 20,964,700 shares. This represents a cumulative reduction of 1.97% of the company's total share capital, or 2.00% after adjusting for repurchased shares in the buyback special account. The weighted average selling price for these transactions was yuan 5.06 per share. This change will not alter the company's control or impact its operations.