Zheng Quan Zhi Xing·2025-09-04 16:06Core Points - The announcement details a change in the equity stake of a major shareholder in Red Star Macalline Group Corporation Limited, with the stake decreasing from 23.51% to 19.95% [1] - The reduction in equity is due to the restructuring process of Red Star Holdings, which has legal effect and involves the transfer of shares to settle debts [2] - A total of 155,117,756 shares have been transferred, with an additional 375,739 shares pending transfer [2] - The announcement confirms that the equity change does not violate any prior commitments or trigger mandatory tender offer obligations [1] Shareholder Information - Red Star Holdings is the controlling shareholder, and its equity stake has decreased as part of the restructuring process [1] - Other significant shareholders include Changzhou Meikai Information Technology Co., Ltd., and individuals such as Che Jianxing, Chen Shuhong, and Che Jianfang, whose stakes remain unchanged [4] Legal and Governance Implications - The restructuring and share transfer are part of a court-ordered execution, which may have significant implications for the company's governance structure and ongoing operations [5] - The company has disclosed that the shares held by Changzhou Meikai Information Technology Co., Ltd. will be sold in the market within 45 trading days, with proceeds directed to the court [4]