YATAI(SZ:000691) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-06 08:01Core Viewpoint - The announcement details the progress of a share reduction plan by the major shareholder, Lanzhou Taihua Investment Holding Co., Ltd., which is linked to the company's restructuring plan and the changes in total share capital due to the implementation of the restructuring plan [3][5][17]. Group 1: Share Reduction Plan - The share reduction plan by Taihua Investment is based on the execution of a cooperation agreement signed on September 18, 2025, and does not involve transferring shares to any parties other than Guangzhou Wanshun or its designated entities [3][8]. - As of the announcement date, Taihua Investment has not yet begun to reduce its shares, and the reduction plan is still pending implementation [4][9]. - The plan allows for a maximum reduction of 6,400,000 shares, which represents 1.32% of the company's total share capital, and will be executed through block trading within a specified period [11][12]. Group 2: Changes in Shareholding Structure - Following the execution of the restructuring plan, the company's total share capital increased from 323,270,000 shares to 484,905,000 shares, resulting in a dilution of Taihua Investment's shareholding percentage [5][19]. - As of December 31, 2025, Taihua Investment held 19,583,700 shares, accounting for 4.04% of the total share capital, while its associated party, Asia-Pacific Mining, held 27,387,895 shares, representing 5.65% [7][8]. Group 3: Restructuring and Risk Warning - The company has completed its restructuring plan, which was approved by the Lanzhou Intermediate People's Court, and is seeking to revoke the delisting risk warning associated with the restructuring [17][19]. - Despite the potential revocation of the delisting risk warning, the company will still face delisting risks due to negative net assets reported for the fiscal year 2024 [20][21].