Shanghai Sanyou Medical (SH:688085) Shang Hai Zheng Quan Bao·2025-12-01 19:36Core Viewpoint - The announcement details the reduction of shareholding by the actual controller and their concerted actors in Shanghai Sanyou Medical Instrument Co., Ltd, indicating a significant change in ownership structure and potential implications for the company's governance and market perception [1][10]. Summary by Sections Basic Information - The actual controller, Xu Nong, and his concerted actor, Chaos Tiancheng Asset Management - Xu Nong - Chaos Tiancheng Selected Strategy No. 18, held 8,881,404 shares, representing 2.66% of the total share capital before the reduction [2]. - Xu Nong directly holds 39,297,975 shares, while other concerted actors, Michael Mingyan Liu and David Fan, hold 30,341,922 shares and 16,335,114 shares respectively, totaling 94,856,415 shares or 28.45% of the company [2]. Results of the Reduction Plan - The reduction plan was disclosed on August 14, 2025, with a maximum of 6,669,249 shares to be sold through block trading, not exceeding 2.00% of the total share capital [3]. - The reduction period was set from September 8, 2025, to December 7, 2025, with a limit of 2% of total shares sold within any 90-day period [3]. Actual Reduction Situation - From September 8 to September 12, 2025, 2,140,000 shares were sold through block trading, followed by an additional 4,529,249 shares sold from September 13 to December 1, 2025, completing the reduction plan [4][5]. - The total reduction amounted to 4,529,249 shares, representing 1.36% of the total share capital, reducing the combined holdings of Xu Nong and his concerted actors from 92,716,415 shares to 88,187,166 shares, a decrease in ownership percentage from 27.80% to 26.45% [5][9]. Additional Notes - The reduction does not trigger a mandatory tender offer and does not involve any change in the actual controller or significant impact on the company's governance structure [10][12]. - The company will continue to monitor compliance with reduction regulations and ensure timely disclosure of relevant information to investors [12].