Kewell(SH:688551) Zhong Guo Jing Ji Wang·2025-09-08 07:26Core Viewpoint - The announcement of share reduction by major shareholders of Kewell (688551.SH) indicates a strategic move to meet personal funding needs while maintaining the company's governance structure and control [1][2]. Shareholder Reduction Plan - Kewell's shareholders, Jingkun Investment and Hetu Investment, plan to reduce their holdings by a total of up to 1,968,799 shares, representing no more than 2.34% of the company's total share capital within three months after the announcement [1][2]. - Jingkun Investment intends to reduce up to 960,827 shares (1.14% of total shares), while Hetu Investment plans to reduce up to 1,007,972 shares (1.20% of total shares) [1][2]. - The reduction will be executed through centralized bidding and block trading, with a combined limit of 1% for centralized trading and 2% for block trading over any consecutive 90-day period [1]. Financial Implications - Based on Kewell's closing price of 40.95 yuan on September 5, the total amount from the planned reduction by both investors is approximately 80.62 million yuan [2]. - As of the announcement date, Jingkun Investment holds 2,124,546 shares (2.53% of total shares), and Hetu Investment holds 2,590,909 shares (3.08% of total shares), totaling 4,715,455 shares (5.61% of total shares) [2]. Employee Incentives - The share reduction is aimed at meeting the personal funding needs of employees who have held shares for several years, thereby enhancing the incentive mechanism for employees to create value for the company [2]. Previous Shareholder Activities - On August 7, Kewell reported that five directors and senior executives had previously reduced their holdings, with total reductions amounting to approximately 64.63 million yuan [3][4]. - The company went public on September 10, 2020, raising a total of 759 million yuan, with net proceeds of 690 million yuan after deducting issuance costs [4][6].