LYFEN(SH:603777) Xin Lang Zheng Quan·2025-09-30 10:39Core Viewpoint - Shanghai Laiyifen Co., Ltd. disclosed the equity changes of its controlling shareholder and its concerted actions in a recent announcement, indicating a reduction in shareholding and the impact on the company's governance structure [1]. Shareholding Situation Before Reduction - Prior to the reduction plan, Shanghai Aiwu Enterprise Management Co., Ltd. held 177,109,500 shares, accounting for 52.96% of the total share capital. Its concerted actions held shares as follows: Shanghai Ying Shui Investment Management Co., Ltd. - Ying Shui Xun Yang No. 10 Private Securities Investment Fund (6,700,000 shares, 2.00%), Yu Ruifen (10,773,000 shares, 3.22%), Shanghai Hai Yong De Management Consulting Partnership (Limited Partnership) (8,555,400 shares, 2.56%), Shi Hui (4,073,000 shares, 1.22%), and Shanghai De Yong Run Yu Management Consulting Partnership (Limited Partnership) (2,784,600 shares, 0.83%) [2]. Reduction Plan and Implementation Results - The controlling shareholder planned to reduce its holdings from July 1, 2025, to December 31, 2025, by up to 10,032,724 shares (3% of total share capital) through centralized bidding or block trading. The actual reduction included 2,190,517 shares through centralized bidding and 3,340,000 shares through block trading, resulting in a total reduction of 2,340,517 shares, reducing the holding from 20,999,550 shares to 20,331,498.3 shares, and the holding percentage decreased from 62.79% to 60.80% [3][4]. Impact of Equity Changes - As of September 30, 2025, the reduction touched the 1% threshold but did not lead to a change in the controlling shareholder or actual controller. The governance structure and ongoing operations of the company remain unaffected, and the changes comply with previous commitments and do not trigger mandatory tender offer obligations [5].