Hangzhou Cogeneration (SH:605011) Zheng Quan Zhi Xing·2025-07-01 16:40Summary of Key Points Core Viewpoint - The announcement details a share reduction plan by major shareholders of Hangzhou Thermal Power Group Co., Ltd., indicating a strategic move to meet personal funding needs while adhering to regulatory requirements [1][2][3]. Shareholder Information - Zhejiang Huashi Investment Management Co., Ltd. holds 5,997,000 shares, representing 1.4989% of the total share capital, all acquired prior to the company's IPO [1][2]. - Three partnership entities (Hangzhou Thermal No. 1, No. 2, and No. 3) also hold shares, with respective holdings of 3,666,845 shares (0.9165%), 3,621,740 shares (0.9052%), and 3,566,615 shares (0.8914%), all acquired before the IPO [2][3]. Reduction Plan Details - Huashi Investment plans to reduce its holdings by up to 5,997,000 shares (1.4989%) within three months starting from three trading days after the announcement, using both centralized bidding and block trading methods [2][3]. - The three partnership entities plan to reduce their holdings as follows: - Hangzhou Thermal No. 1: up to 3,461,500 shares (0.8652%) through centralized bidding from July 23, 2025, to October 22, 2025 [3]. - Hangzhou Thermal No. 2: up to 3,613,200 shares (0.9031%) through centralized bidding during the same period [3]. - Hangzhou Thermal No. 3: up to 3,296,400 shares (0.8239%) through centralized bidding during the same period [3]. Compliance and Commitments - The shareholders have made commitments regarding their shareholdings, including a lock-up period of 36 months post-IPO, during which they will not transfer or manage their shares [5][6]. - The reduction plan complies with relevant regulations and does not involve the company's controlling shareholders or actual controllers, thus avoiding restrictions on share reductions [6][7].