Zhongzhou Special Materials announced that shareholders holding more than 5% of the company, Han Ming and Xu Liang, plan to reduce their combined stake by no more than 1.1% of the total share capital. Han Ming intends to sell no more than 4,586,400 shares, representing 1% of the total share capital, through centralized bidding within three months starting fifteen trading days after the announcement date. Xu Liang plans to sell no more than 458,600 shares, representing 0.1% of the total share capital, during the same period. The reason for the reductions is personal funding needs.
Shanghai Zhongzhou Special Alloy Materials Co. Ltd.Two major shareholders plan to sell a combined 1.1% stake for personal funding needs, signaling insider selling pressure.