Zhejiang Shibao disclosed the progress of its controlling shareholder's stake reduction. Zhejiang Shibao Holding Group Co., Ltd. reduced its holdings by 8.2263 million A-shares through competitive bidding and 901,900 shares through block trades on May 22, 2026, totaling a reduction of 9.1282 million shares, accounting for 1.11% of the company's total share capital. The company confirmed that this reduction did not lead to a change in control, and the controlling shareholder has decided to terminate the reduction plan early, with no further reductions of the remaining shares.
Zhejiang Shibao Co LtdControlling shareholder reduced stake by 1.11%, signaling potential lack of confidence, though early termination of plan may partially offset.