Shenzhen Wangzixin Materials (002735)'s controlling shareholders and executives plan to reduce their holdings by a total of no more than 3.02% of the shares.

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Shenzhen Prince New Materials Co., Ltd. (hereinafter referred to as “Shenzhen Prince New Materials” or “the Company”) announced on March 21, 2026, that the Company’s controlling shareholder and actual controller Wang Jinjun, along with directors and senior executives Cheng Gang and Bai Qiong, plan to reduce their holdings in the Company due to personal funding needs within the next three months, with a total reduction not exceeding 3.02% of the total share capital.

Controlling shareholder plans to reduce holdings by no more than 3%, mainly due to personal funding needs

The announcement shows that the Company’s controlling shareholder and actual controller Wang Jinjun currently holds 101,147,799 shares of Shenzhen Prince New Materials, accounting for 26.9545% of the Company’s total share capital. Based on personal funding needs, Wang Jinjun plans to reduce his holdings by no more than 3,752,544 shares (accounting for 1.00% of the total share capital) through centralized bidding within three months after the announcement of the reduction plan, starting from 15 trading days after the announcement (from April 14, 2026, to July 13, 2026, excluding the period during which reduction is prohibited by laws and regulations), and by no more than 7,505,087 shares (accounting for 2.00% of the total share capital) through block trading, with a total intended reduction of no more than 11,257,631 shares, accounting for about 3.00% of the Company’s total share capital.

Two executives simultaneously reducing holdings, with a small proportion

In addition to the controlling shareholder, two senior executives of the Company have also disclosed their reduction plans. Among them, director and vice president Cheng Gang holds 196,000 shares of the Company, accounting for 0.0522% of the total share capital, and plans to reduce no more than 49,000 shares through centralized bidding, accounting for 0.0131% of the total share capital; board secretary and vice president Bai Qiong holds 117,600 shares of the Company, accounting for 0.0313% of the total share capital, and plans to reduce no more than 29,400 shares through centralized bidding, accounting for 0.0078% of the total share capital.

Details of the reduction plan: timing, method, and source of shares

According to the announcement, the specific arrangements for this reduction plan are as follows:

• Reduction period: Within three months starting from 15 trading days after the announcement date, i.e., from April 14, 2026, to July 13, 2026 (excluding the period during which reduction is prohibited by laws and regulations).
• Reduction method: Wang Jinjun may reduce shares through centralized bidding or block trading, while Cheng Gang and Bai Qiong will only reduce shares through centralized bidding.
• Reduction price: Determined based on the market price of the stock at the time of reduction.
• Source of shares: Wang Jinjun’s shares come from the shares issued before the Company’s initial public offering; Cheng Gang’s and Bai Qiong’s shares come from the shares granted under the Company’s 2020 restricted stock incentive plan.

Risk reminder: reduction carries uncertainty, control rights remain unaffected

The announcement specifically reminds that this reduction plan will be determined based on market conditions, company stock prices, and other factors, so the timing, quantity, and price of the reduction are uncertain. At the same time, the Company emphasizes that the implementation of this reduction plan will not lead to a change in the control of the Company, nor will it affect the Company’s governance structure and ongoing operations.

In addition, the Company stated that as of the announcement date, there are no situations of trading below par or net asset value, and the cumulative cash dividends over the past three years have not been less than 30% of the average net profit over the past three years. The above shareholders have strictly fulfilled all previous commitments, and this reduction plan complies with the requirements of the “Securities Law” and the “Interim Measures for the Administration of Shareholder Reductions in Listed Companies” and other relevant laws and regulations.

The board of directors of Shenzhen Prince New Materials stated that it will supervise the relevant shareholders to comply with laws and regulations and fulfill information disclosure obligations during the implementation of the reduction plan, urging investors to invest rationally and pay attention to risks.

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

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Editor: Xiao Lang Kuai Bao