Shaoneng Group: Shareholder completes stake reduction plan

Guangdong Shaoneng Group Co., Ltd. announced the completion of a share reduction plan by its shareholder, Shenzhen Zhaowei Hengfa Energy Co., Ltd. (Shenzhen Zhaowei). Between November 10 and November 25, 2025, Shenzhen Zhaowei divested a total of 31,444,050 shares, representing 2.99% of the company's total share capital after excluding repurchased shares. The transactions were conducted through both block trades and centralized bidding, with an average weighted price of CNY 4.93 per share.

The divestment included 2,696,470 shares via block trades and 4,766,135 shares via centralized bidding on various dates within the specified period. Post-reduction, Shenzhen Zhaowei's stake in Guangdong Shaoneng Group decreased from 8.51% to 7.51% of the total share capital, after excluding repurchased shares. This change triggered a 1% equity fluctuation, as previously disclosed on October 17, 2025.

The company’s total share capital, following the cancellation of 16,208,345 repurchased shares on November 7, 2025, now stands at 1,064,343,324 shares. Guangdong Shaoneng Group affirms that this equity change will not alter the company's control or negatively impact its governance structure and ongoing operations.