Core Viewpoint - Fangyuan Zhihuo plans to reduce its stake in Suqian Liansheng by up to 12,569,027 shares, representing 3% of the total share capital, through various legal methods over a period from October 13, 2025, to January 12, 2026 [1] Summary by Relevant Sections Shareholding and Reduction Plan - Fangyuan Zhihuo currently holds 17,999,531 shares of Suqian Liansheng, accounting for 4.30% of the total share capital [2] - The reduction will occur within three months after the announcement, with the price determined by market conditions [1] - The maximum reduction amount is estimated at approximately 109 million yuan based on the closing price of 8.70 yuan per share on September 11, 2025 [2] Historical Shareholding and Transactions - Fangyuan Zhihuo was the fifth largest shareholder of Suqian Liansheng as of June 30, 2025, having initially held 35,698,800 shares, which was 8.52% of the total shares [3] - Since February 25, 2025, Fangyuan Zhihuo has cumulatively reduced its holdings by 17,699,200 shares, realizing approximately 155 million yuan [3] Financial Performance - For the first half of 2025, Suqian Liansheng reported revenue of 627 million yuan, a year-on-year decrease of 13.70%, and a net profit attributable to shareholders of 15.45 million yuan, down 42.84% [4] - The net profit after deducting non-recurring gains and losses was 8.88 million yuan, a decline of 56.50% [4] - In the years 2022 to 2024, the net profit attributable to shareholders was 246 million yuan, 75.10 million yuan, and 39.36 million yuan, respectively [5] IPO and Market Performance - Suqian Liansheng went public on March 21, 2023, with an issue price of 12.85 yuan per share, raising a net amount of approximately 466.63 million yuan [5][6] - The stock reached its highest price of 22.39 yuan on March 23, 2023, but is currently trading below the issue price [5]

Group 1 - The major shareholders of Suqian Liansheng (603065.SH) have announced plans to reduce their holdings, with significant stakes held by Fangyuan Zhihuo, Coastal Investment, XGBS Venture Capital, and Bansheng Juyuan [1][2] - Fangyuan Zhihuo plans to reduce up to 12,569,027 shares, representing 3% of the total share capital, during the period from July 31, 2025, to October 31, 2025 [2] - Coastal Investment, XGBS Venture Capital, and Bansheng Juyuan collectively plan to reduce up to 12,690,000 shares, accounting for 3.03% of the total share capital, within the same timeframe [2] Group 2 - Suqian Liansheng was listed on the Shanghai Stock Exchange on March 21, 2023, with an issuance of 41.9 million shares at a price of 12.85 yuan per share [3] - The stock reached its highest price of 22.39 yuan on March 23, 2023, but has since experienced a decline and is currently trading below its initial offering price [3] - The total funds raised from the IPO amounted to 538.415 million yuan, with a net amount of 466.6271 million yuan allocated for the construction of products such as light stabilizers and key intermediates [3]