Core Viewpoint - The controlling shareholder of Sanmei Co., Ltd. (三美股份) plans to reduce his stake in the company by up to 18,314,370 shares, representing approximately 3% of the total share capital, through both centralized bidding and block trading methods from December 3, 2025, to March 2, 2026 [1][2]. Shareholder Reduction Plan - The reduction will be executed in two phases: a maximum of 6,104,790 shares (1% of total share capital) through centralized bidding and up to 12,209,580 shares (2% of total share capital) through block trading [1][2]. - The reduction price will be determined based on market conditions [1]. Current Shareholding Structure - As of the announcement date, the controlling shareholder, Hu Rongda, holds 225,229,140 shares, approximately 36.89% of the total share capital [2]. - Hu Rongda's associate, Hu Qixiang, holds 103,738,226 shares (16.99%), and Wuyi Sanmei Investment Co., Ltd. holds 48,937,288 shares (8.02%) [2]. - Together, Hu Rongda and his associates own 377,904,654 shares, accounting for about 61.90% of the total share capital [2]. Historical Context of Share Reductions - Hu Rongda has previously reduced his holdings, having sold a total of 5,684,800 shares since August 1, 2025, resulting in approximately 309.42 million yuan in cash [3][4]. - The average selling price during the recent reduction period was 58.24 yuan per share [4]. Company Background - Sanmei Co., Ltd. was listed on the Shanghai Stock Exchange on April 2, 2019, with an initial issuance of 59,733,761 shares at a price of 32.43 yuan per share [4]. - The company raised a total of 1.937 billion yuan through its public offering, with net proceeds of approximately 1.812 billion yuan allocated for various projects, including expansion and environmental improvements [5].

Core Viewpoint - The controlling shareholder of Sanmei Co., Ltd. (三美股份) has reduced their stake, triggering a 1% threshold change in equity ownership, indicating a strategic move in the company's shareholding structure [1]. Shareholder Changes - Hu Rongda, the controlling shareholder, reduced his holdings by 5,238,300 shares from August 1 to August 26, 2025, which is 0.86% of the total share capital [1]. - Following this reduction, Hu Rongda and his concerted parties now hold 61.98% of the company's shares, down from 62.83% [1]. - The total cash generated from this reduction, based on an average stock price of 54.11 yuan per share, amounts to approximately 283 million yuan [1]. Company Background - Sanmei Co., Ltd. was listed on the Shanghai Stock Exchange on April 2, 2019, with an initial issuance of 59,733,761 shares at a price of 32.43 yuan per share [3]. - The total funds raised from the public offering amounted to 193.72 million yuan, with a net amount of 181.29 million yuan allocated for various projects including expansion and environmental improvements [3]. - The company also announced a profit distribution plan in 2020, distributing a cash dividend of 0.45 yuan per share and a capital increase of 0.40 shares per share, resulting in a total share capital of 610,479,037 shares post-distribution [4].