Kinwong(SH:603228) Zheng Quan Zhi Xing·2025-07-04 16:34Core Viewpoint - The equity change is due to the completion of the 2024 equity incentive plan, the repurchase and cancellation of certain restricted stocks, and the conversion of convertible bonds, leading to an increase in the company's total share capital and a passive dilution of the shareholding ratio of the information disclosers [1][2][6]. Summary by Relevant Sections Equity Change Details - The equity change does not trigger a mandatory tender offer and will not result in changes to the company's controlling shareholder or actual controller, nor will it affect the company's governance structure or ongoing operations [1][2]. - After the equity change, the number of shares held by the information disclosers decreased from 588,657,775 shares to 562,615,975 shares, with the ownership ratio dropping from 65.54% to 60.00%, reaching a 5% integer multiple [1][4]. Information Disclosers - The main information discloser is Shenzhen Jinghong Yongtai Investment Holding Co., Ltd., which holds 50% of the shares, along with Shenzhen Yizhao Investment Partnership (Limited Partnership) [2][3]. - The disclosers have a unified action relationship as per the agreement signed on January 6, 2020, and have maintained this relationship through subsequent commitments [3][4]. Shareholding Structure - As of the report date, the shareholding structure of the disclosers is as follows: - Shenzhen Jinghong Yongtai Investment Holding Co., Ltd.: 281,643,908 shares (30.04%) - Other individual shareholders include Liu Shaobai, Huang Xiaofen, and Liu Yu, with their respective holdings [4][6]. - The total shares held by the information disclosers after the equity change is 562,615,975 shares, representing 60.00% of the total share capital [4][6]. Changes in Shareholding - The equity change was influenced by the completion of the equity incentive plan, the repurchase of restricted stocks, and the conversion of convertible bonds, which collectively increased the total share capital from 898,181,889 shares to 937,693,150 shares [6][7]. - The information disclosers' shareholding ratio was passively diluted due to these changes, leading to a decrease in their ownership percentage [6][7].