Aqualine announces Kshim Insight's stake drops below 10%

Aqualine, Inc. announced on October 22, 2025, a change in its major shareholders that occurred on July 22, 2025. The change resulted from the exercise of the first series of share options, leading to a decrease in the stake held by Kshim Insight, Inc. below 10%. Kshim Insight is engaged in incubation businesses. Aqualine apologized for the delay in disclosure, stating the company became aware of the need to disclose after an external indication.

Before the change, as of July 21, 2025, Kshim Insight held 7,048 voting rights (704,800 shares), representing 10.15% of the total voting rights, making it the 4th largest shareholder. Following the exercise of share options on July 22, 2025, Kshim Insight's voting rights remained at 7,048 (704,800 shares), but its proportion of total voting rights decreased to 9.94%, maintaining its 4th rank.

The calculation of the percentage of total voting rights reflects an increase in the number of voting rights from 36,918 to 69,418, based on new shares issued from a third-party allocation. After the share option exercise, the total voting rights further increased to 70,918. Aqualine stated that this change is not expected to impact its business performance or management structure.