Core Viewpoint - Panda Dairy (300898) announced a change in shareholding structure, with the combined shareholding of its controlling shareholders decreasing from 47.4516% to 46.7383%, marking a change that touches the 1% integer threshold [1] Shareholding Changes - The actual controller's concerted actors, Chen Xiuqin and Chen Xiuzhi, have reduced their holdings, with Chen Xiuqin selling 499,970 shares from December 24, 2024, to February 25, 2025, and Chen Xiuzhi selling 381,500 shares from May 29, 2025, to June 3, 2025 [1] - The total number of shares reduced in this transaction amounts to 884,470 shares, representing a decrease of 0.7133% of the total share capital [2] Previous Disclosure and Plans - On May 7, 2025, Panda Dairy disclosed a pre-announcement regarding the planned reduction of shares by its actual controller's concerted actors, indicating a total planned reduction of 1,200,000 shares (0.9677% of total share capital) within three months following the announcement [2] - The reduction plan is consistent with previously disclosed intentions and commitments, and it has not yet been fully executed [2] Company Background - Panda Dairy was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on October 16, 2020, with an initial issuance of 31 million shares at a price of 10.78 yuan per share [3] - The total amount raised during the IPO was 334.18 million yuan, with a net amount of 277.80 million yuan after deducting issuance costs, which were 56.38 million yuan [3] - The funds raised were intended for various production projects and marketing initiatives [3]