TGC(SZ:300265) Zhong Guo Jing Ji Wang·2026-02-27 08:20Core Viewpoint - Tongguang Cable (300265.SZ) announced a share reduction plan by its controlling shareholder, Tongguang Group, and some directors, which is expected to have limited impact on the company's governance and operations [1][2]. Group 1: Share Reduction Plan - Tongguang Group plans to reduce its holdings by up to 14,028,000 shares, representing no more than 3% of the total share capital, within three months from March 20, 2026, to June 19, 2026 [1]. - The reduction will occur through two methods: a maximum of 4,676,000 shares via centralized bidding (up to 1% of total share capital) and a maximum of 9,352,000 shares through block trading (up to 2% of total share capital) [1]. - Chairman and General Manager Zhang Zhong plans to reduce his holdings by up to 98,300 shares (0.0210% of total share capital) during the same period [2]. Group 2: Financial Implications - Based on the closing price of 18.30 CNY per share, Tongguang Group's planned reduction could yield approximately 257 million CNY [2]. - The company successfully raised approximately 780 million CNY through a specific issuance of 93,301,435 shares at a price of 8.36 CNY per share, with a net amount of approximately 769 million CNY after deducting issuance costs [3]. - The raised funds have been managed in a dedicated account, and the situation has been verified by an accounting firm [3].