Core Points - The company, Shenling Environment, announced a share reduction plan involving major shareholders and management [1][2] - The company's market capitalization is currently 15 billion yuan [3] Share Reduction Plan - Shenling Investment, a significant shareholder holding approximately 34.98 million shares (13.15% of total shares), plans to reduce its holdings by up to 3.2 million shares through block trading within three months after the announcement [1] - Major shareholder and director Tan Bingwen, who holds about 29.08 million shares (10.93% of total shares), intends to reduce his stake by up to 2.66 million shares through centralized bidding within the same timeframe [1] - Another major shareholder, Su Cuixia, holding around 13.71 million shares (5.15% of total shares), plans to reduce her holdings by up to 2.76 million shares through both centralized bidding and block trading [1] - Senior management member Chen Jun, with approximately 90,200 shares (0.03% of total shares), plans to reduce his stake by up to 22,500 shares through centralized bidding [2] Revenue Composition - For the year 2024, the revenue composition of Shenling Environment is as follows: data services account for 51.31%, special industries for 23.33%, industrial sectors for 20.26%, public construction and commercial sectors for 4.61%, and other businesses for 0.49% [2]

Core Viewpoint - Shareholders of Shenling Environment (申菱环境) plan to reduce their holdings, which may impact the company's stock structure but is not expected to affect its governance or control [1][2]. Group 1: Shareholder Reduction Plans - Shareholder Zhongcheng Investment plans to reduce up to 6,966,000 shares (2.62% of total shares) from July 17, 2025, to October 16, 2025 [1]. - Shareholder Shenling Investment plans to reduce up to 1,015,500 shares (0.38% of total shares) during the same period [1]. - The total reduction from both shareholders will not exceed 7,981,500 shares (3% of total shares) [1]. Group 2: Shareholder Holdings - As of the announcement date, Zhongcheng Investment holds 23,220,000 shares (8.73% of total shares) and Shenling Investment holds 36,000,000 shares (13.53% of total shares) [2]. - Both shareholders are considered acting in concert and are significant stakeholders in the company [2]. Group 3: Company Financials and Fundraising - Shenling Environment raised a total of 4.97 billion RMB during its IPO, with a net amount of 4.43 billion RMB after expenses [2][3]. - The company initially planned to raise 6.50 billion RMB, with 5.00 billion RMB allocated for a specialized environmental system manufacturing base and 1.50 billion RMB for working capital [3]. - The total amount raised from two fundraising events is 1.297 billion RMB [5].