保变电气：股东权益变动触及1%刻度及减持计划完成暨减持股份结果公告

Core Points - The announcement from Baobian Electric indicates that its major shareholder, China Ordnance Equipment Group Co., Ltd., through its subsidiary, has completed a share reduction plan, impacting the company's total shareholding structure [2] Group 1 - The subsidiary, China Ordnance Equipment Group Finance Co., Ltd., held 18,004,049 shares of Baobian Electric, representing 0.98% of the total share capital before the reduction [2] - Following the share reduction, the total shares held by the finance company and its concerted action party decreased from 312,738,795 shares to 294,734,746 shares, reducing their ownership percentage from 16.98% to 16% [2] - The share reduction was executed through centralized bidding, and the plan has now been completed as of November 21, 2025 [2]