Group 1 - The company 瑞茂通 announced the release of part of its pledged shares held by 郑州瑞茂通 and 上海豫辉 [1] - 郑州瑞茂通 holds approximately 554 million shares of 瑞茂通, accounting for 51.02% of the total share capital of about 1.08 billion shares [1] - The total number of pledged shares by 郑州瑞茂通 is approximately 424 million, which represents 76.55% of its holdings and 39.06% of the total share capital [1] Group 2 - 郑州瑞茂通 and its concerted actions hold a total of approximately 688 million shares, which is 63.35% of the total share capital [1] - The cumulative pledged shares by 郑州瑞茂通 and its concerted actions amount to about 545 million, representing 79.14% of their total holdings [1] - For the first half of 2025, 瑞茂通's revenue composition is as follows: coal direct transportation and processing sales account for 77.9%, non-coal bulk accounts for 11.02%, agricultural product processing accounts for 10.9%, and industrial internet platform services account for 0.19% [1] Group 3 - The current market capitalization of 瑞茂通 is 5.1 billion [2]

Core Viewpoint - The company has completed the share reduction plan by its vice president and board secretary, Xie Longde, who sold a total of 168,800 shares at an average price of 18.45 yuan per share, realizing approximately 3.11 million yuan [1] Group 1: Share Reduction Details - Xie Longde reduced his holdings on September 8 and 9, 2023, and after the reduction, he holds 506,300 shares, representing 0.3452% of the company [1] - Another vice president, Li Xiyun, completed his share reduction plan on September 2, 2023, selling 126,800 shares at an average price of 18.84 yuan per share, totaling approximately 2.39 million yuan [1] - The share price of the company saw a significant increase from early to mid-August, peaking above 23 yuan per share, but both executives missed the opportunity to sell at this high price [1] Group 2: Historical Context of Share Reductions - Xie Longde has previously engaged in share reductions, including a plan in 2020 where he sold 300,000 shares for approximately 6.51 million yuan [3] - Cumulatively, Xie Longde has realized around 12.96 million yuan from share reductions since the company's IPO [4] - The company's controlling shareholder, Lei Yongqiang, has also been involved in significant share reductions, totaling over 20 million yuan in various transactions from 2022 to 2024 [4] Group 3: Company Performance and Market Conditions - The company has faced declining performance, reporting losses of 8.12 million yuan in 2023 and 131 million yuan in 2024, following stable performance from 2019 to 2022 [5][6] - The company attributes its challenges to intense market competition, price pressures, and adverse global economic conditions, including international trade disputes [6]