Weihai Guangwei Composites' controlling shareholder completes share reduction

Weihai Guangwei Composites Co., Ltd. announced today that its controlling shareholder, Weihai Guangwei Group Co., Ltd., has completed its share reduction plan as disclosed on July 31, 2025. The plan involved a total reduction of 9,999,919 shares, which did not exceed the initially planned maximum of 10,000,000 shares. This translates to 1.21% of the total share capital after excluding repurchased shares.

The share reduction was executed through a combination of centralized bidding and block trades. Centralized bidding, occurring between September 29, 2025, and November 20, 2025, saw the sale of 8,313,439 shares at an average price of yuan 28.61 per share. A block trade on November 14, 2025, involved the sale of 1,686,480 shares at an average price of yuan 26.69 per share. All shares sold originated from the company's initial public offering.

Post-reduction, Guangwei Group's total shareholding in Weihai Guangwei Composites stands at 299,641,585 shares, representing 36.32% of the company's total share capital after excluding repurchased shares. The company confirmed that this share reduction will not lead to a change in the company's control, nor will it significantly impact its corporate governance, equity structure, or continuous operations.