Core Viewpoint - Zhejiang Xinghua New Materials Group Co., Ltd. announced that shareholder Niu Jiang plans to reduce his holdings of 1.9977 million shares (1.17% of total share capital) within three months from September 20, 2025, through centralized bidding and block trading [1] Summary by Sections Reduction Details - Niu Jiang's reason for the reduction is personal funding needs. The shares originated from holdings prior to the company's IPO and shares obtained through capital reserve conversion. The reduction will occur via centralized bidding and block trading, with a limit of 1% of total shares for centralized bidding and 2% for block trading within any continuous 90-day period. The reduction price will be determined by market conditions at the time of the sale [2] Commitment Fulfillment - Niu Jiang made commitments regarding share transfer and reduction in the IPO prospectus. He agreed not to transfer or manage his shares for 12 months post-listing, with an extension of 6 months if certain price conditions were met. After the lock-up period, he committed to not selling below the IPO price for two years. As of the announcement date, all shares held prior to the IPO and those obtained through capital reserve conversion have been released from lock-up as of March 31, 2023, and the planned reduction aligns with previous commitments [3]
浙江星华新材股东牛江拟减持199.77万股，占总股本1.17%