SNC Net(SH:605398) Zheng Quan Zhi Xing·2025-07-18 16:25Core Viewpoint - The announcement details the share reduction plans of major shareholders of Shanghai Xinjun Network Information Technology Co., Ltd, including Shanghai Senxiao Investment Center and executive Cheng Yongxin, indicating a total reduction of up to 4,067,908 shares, which represents a maximum of 2.50% of the company's total share capital [1][2][3]. Shareholder Information - Shanghai Senxiao Investment Center holds 10,230,216 shares, accounting for 6.29% of the total share capital, while Cheng Yongxin holds 9,869,257 shares, representing 6.07% [1][3][4]. - Both shareholders acquired their shares prior to the company's IPO and through capital reserve conversion, and all shares are freely tradable [1][4]. Reduction Plan Details - Shanghai Senxiao plans to reduce its holdings by up to 2,440,745 shares, or 1.50% of the total share capital, through centralized bidding and block trading [1][4]. - Cheng Yongxin intends to reduce his holdings by up to 1,627,163 shares, or 1.00% of the total share capital, also through centralized bidding and block trading [2][4]. - The reduction period is set from August 9, 2025, to November 8, 2025, with specific trading limits during this timeframe [4][10]. Trading Conditions - The reduction will occur after a 15 trading day period following the announcement, with a maximum of 1% of the total shares for centralized bidding and 2% for block trading within any continuous 90-day period [2][4]. - The reduction price will be determined based on market conditions but will not be lower than the issuance price [2][4]. Other Considerations - The reduction does not involve the actual controllers of the company, and the proceeds from the reduction will be allocated to other partners of Shanghai Senxiao, excluding the actual controllers [2][4]. - Cheng Yongxin, as a director and senior executive, will not reduce his shares during the designated window periods as per legal and regulatory requirements [3][4].