Core Viewpoint - Yandong Micro announced a share reduction plan by its major shareholder, Beijing E-Town International Investment Development Co., Ltd. (E-Town Investment), due to its operational needs, intending to reduce its holdings through centralized bidding or block trading [1][2]. Summary by Relevant Sections Shareholder Reduction Plan - E-Town Investment holds 168,912,889 shares of Yandong Micro, accounting for 11.83% of the total share capital, acquired before the company's initial public offering [1]. - The reduction will occur within three months from September 24, 2025, to December 24, 2025, with a maximum of 14,276,180 shares to be sold, representing up to 1% of the total share capital [1]. Conditions and Commitments - E-Town Investment has not reduced its holdings since the company's listing and has made several commitments regarding its shareholding, including a 12-month lock-up period post-listing [1]. - The reduction plan will be subject to market conditions, share price, and internal decisions, and it is stated that the plan will not significantly impact the company's governance structure or ongoing operations [2]. Uncertainties and Market Impact - There are uncertainties regarding the timing, quantity, and price of the share reduction, as well as whether the plan will be executed as scheduled [2]. - The share reduction will not lead to a change in the control of the listed company [2].
燕东微5%以上股东亦庄国投拟减持不超1%股份