Sinexcel Electric shareholder Sheng Jianming completes significant share reduction

Shenzhen Sinexcel Electric Co., Ltd. (stock code: 300693) announced that specific shareholder Mr. Sheng Jianming has completed his share reduction plan. As disclosed in the initial announcement on July 30, 2025, Mr. Sheng Jianming planned to reduce his holdings by a maximum of 3,110,800 shares (0.9969% of the total share capital excluding shares in the buyback special account) within three months.

The company received notification on November 21, 2025, confirming that Mr. Sheng Jianming cumulatively reduced his holdings by 3,110,716 shares through concentrated bidding between August 21, 2025, and November 20, 2025. This transaction led to Mr. Sheng Jianming's shareholding decreasing to below 5%, as previously announced on October 24, 2025.

Before the reduction, Mr. Sheng Jianming held 16,978,437 shares, representing 5.4280% of the total share capital or 5.4411% excluding shares in the buyback special account. Following the completion of the reduction, his total holdings stand at 13,867,721 shares, representing 4.4335% of the total share capital or 4.4442% excluding shares in the buyback special account. The company clarified that Mr. Sheng Jianming is not a controlling shareholder or actual controller, and this reduction will not change the company's control structure or impact its governance and continuous operations.