Jiangsu Yitong Technology Shareholder Wang Zhenhong Plans to Reduce Holdings of No More Than 9.1 Million Shares, Accounting for Nearly 3% of Total Share Capital

Jiangsu Yitong High-Tech Co., Ltd. (hereinafter referred to as “Yitong Technology”) recently announced a pre-disclosure of shareholder share reduction plan. The company’s shareholder holding more than 5%, Wang Zhenhong, plans to reduce his shares through centralized bidding or block trades within the next three months, with a reduction not exceeding 9.1 million shares, accounting for 2.9941% of the company’s total share capital.

Shareholder Basic Information

The announcement shows that as of the disclosure date of this reduction plan, Wang Zhenhong and his concerted action partner Wang Guizhen (who are spouses) together hold 48,228,441 shares of Yitong Technology, accounting for 15.8683% of the total share capital. Among them, Wang Zhenhong directly holds 42,643,649 shares, representing 14.0308%; Wang Guizhen directly holds 5,584,792 shares, representing 1.8375%.

Core Content of the Reduction Plan

Shareholder Commitments and Performance

The announcement states that Wang Zhenhong and Wang Guizhen promised at the time of the company’s initial public offering: after 36 months from the date of listing, during their tenure as directors, supervisors, or senior management, they will not transfer more than 25% of their total holdings annually; within six months after leaving the company, they will not transfer shares; within 12 months after leaving, the transfer ratio will not exceed 50%. In January 2021, Wang Zhenhong further committed to continue fulfilling the remaining voluntary lock-up commitments when transferring 29.99% of his shares. To date, these shareholders have strictly adhered to their commitments without any violations.

Risk Reminder

Yitong Technology points out that Wang Zhenhong will decide whether to implement this reduction plan based on market conditions, the company’s stock price, and other factors. The implementation and completion of this plan are uncertain. The company emphasizes that Wang Zhenhong is not a controlling shareholder or actual controller of the company. This reduction will not affect the company’s governance structure, equity structure, or ongoing operations, nor will it lead to a change in control. The company will disclose the progress of the reduction plan in a timely manner according to relevant regulations.

Investors are advised to invest rationally and be aware of investment risks.

Disclaimer: The market carries risks; investment should be cautious. This article is automatically published by an AI large model based on third-party databases and does not represent Sina Finance’s views. Any information in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for any discrepancies. If you have questions, please contact biz@staff.sina.com.cn.

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