Sanfeng Intelligent Equipment: Major shareholders reduce stake, crossing 1% threshold

Sanfeng Intelligent Equipment Group announced that major shareholders Chen Wei and Chen Gongcen, acting in concert, have reduced their combined stake in the company. This equity change, which occurred between November 18, 2025, and December 22, 2025, reduced their total holdings from 120,737,862 shares (8.62% of the total share capital) to 107,437,862 shares (7.67%), crossing a 1% threshold.

The share reduction involved Chen Wei divesting 12,900,000 shares through block trading, representing 0.92% of the total share capital, while Chen Gongcen sold 400,000 shares via centralized bidding, accounting for 0.03%. This brings the total reduction to 13,300,000 shares, or 0.95% of the company's total share capital. The transactions align with a pre-disclosure announcement made on October 15, 2025.

The company stated that this equity change does not affect the actual control of the company, its corporate governance structure, or its future sustainable operations. The total unlimited shares held by Chen Wei and Chen Gongcen combined decreased from 39,875,303 shares (2.85%) to 26,575,303 shares (1.90%).