Xin Lang Cai Jing·2026-03-29 12:59Core Viewpoint - The announcement from Ninghu Expressway reveals significant changes in its top ten circulating shareholders as of December 31, 2025, including new entries, exits, increases, and decreases in shareholdings [1][4]. Shareholder Changes - Three new shareholders entered the top ten list: - China Merchants Highway holds 590 million shares, accounting for 11.73% of circulating shares - Jiangsu Yunsong Capital holds 86.23 million shares, accounting for 1.72% - Harvest CSI 300 Dividend Low Volatility ETF holds 9.83 million shares, accounting for 0.2% [1][4][5]. - Two shareholders exited the top ten list: - Huatai-PB CSI Dividend Low Volatility ETF previously held 20.71 million shares, accounting for 0.41% - China Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Product - 005L - CT001 previously held 17.90 million shares, accounting for 0.36% [1][4][6]. - Two shareholders increased their holdings: - JPMorgan Chase increased its holdings by 4.39% to 74.83 million shares - Southern S&P Dividend Low Volatility 50 ETF Link A increased its holdings by 15.24% to 14.69 million shares [1][4][5]. - Two shareholders decreased their holdings: - BlackRock reduced its holdings by 3.22% to 121 million shares - Guotai Junan reduced its holdings by 16.41% to 13.07 million shares [1][4][6]. Overall Shareholding Summary - The top ten circulating shareholders collectively hold 3.73 billion shares, representing 74.24% of circulating shares, which is an increase of 56.43 million shares compared to the previous report [3][6].