Vanward Electric's indirect shareholder halts share reduction plan

Guangdong Vanward New Electric announced on December 3, 2025, that its indirect controlling shareholder, Guangdong Vanward Group, did not implement any share reductions during the planned period from September 3, 2025, to December 2, 2025. The group had initially planned to reduce its holdings by no more than 7.4151 million shares (1% of total share capital) due to funding requirements. This plan, first disclosed on August 12, 2025, has now automatically terminated without any shares being sold.

Separately, the company's board of directors held its sixth board meeting on December 2, 2025, approving revisions to the investment equity fund partnership agreement. These revisions, which aim to extend the operating period of the Qianhai Mother Fund to perpetual operation, will be submitted for shareholder approval on December 18, 2025. This adjustment is intended to facilitate ongoing post-investment management, support smooth exits for invested projects, and potentially defer risk resolution for some projects, ensuring better investment returns.

The board also approved an application for a comprehensive credit line totaling 800 million yuan from China Communications Bank. This includes 450 million yuan for the company and 350 million yuan for its wholly-owned subsidiary, Guangdong Vanward Electric, with both credit lines valid for two years.