OFILM’s major shareholders cut stake to settle debt

OFILM Group's controlling shareholder, Shenzhen OFILM Investment Holding Co., Ltd. (OFILM Holdings), and its concerted parties, Vast High (China) Co., Ltd. and Cai Rongjun, have reduced their combined equity stake from 14.09% to 9.13%. This reduction occurred through non-transactional transfers of shares to Chaohu City Ecological Technology Development Co., Ltd. (Chaohu Technology) to settle historical debts, and passive dilution from the exercise of stock options.

OFILM Holdings transferred 67,704,806 unrestricted shares, representing 2.01% of the company's total share capital, to Chaohu Technology at a price of CNY 7.385 per share. The total transfer value of CNY 499,999,992.31 will be used to repay a RMB 500,000,000 loan. This follows a previous non-transactional transfer on December 15, 2025, involving 30,971,341 shares from OFILM Holdings and 60,846,066 shares from Vast High (China) Co., Ltd.

Despite the reduction, OFILM Holdings remains the controlling shareholder, and Cai Rongjun remains the actual controller. The transaction does not affect the company's control, assets, finances, operations, or governance structure. Chaohu Technology is restricted from further reducing its holdings for six months following the transfer.