Quzhou Dongfeng New Materials' four major shareholders terminate their share reduction plans; originally intended to reduce no more than 15.6M shares.

On March 26, 2026, Quzhou Dongfeng New Materials Group Co., Ltd. (hereinafter referred to as “Quzhou Dongfeng”) announced that its four shareholders, Huang Xiaojia, Chen Yujian, Zeng Qingming, and Zeng Qingtong, have decided to提前 terminate their previously disclosed reduction plan, and during the implementation period, they did not reduce any shares of the company. This move means that the original plan to reduce no more than 15.5978 million shares (accounting for 0.81% of the company’s total share capital) has officially been terminated.

Review of the Original Reduction Plan

According to the “Shareholder Share Reduction Plan Announcement” disclosed by Quzhou Dongfeng on March 21, 2026 (Announcement No.: 2026-011), the four shareholders—Huang Xiaojia, Chen Yujian, Zeng Qingming, and Zeng Qingtong—planned, from 15 trading days after the announcement date and within three months (i.e., from April 14 to July 13, 2026), to reduce their holdings through centralized bidding on the Shanghai Stock Exchange by a total of no more than 15.5978 million shares, representing 0.81% of the company’s total share capital. The purpose of the reduction was “to meet asset management and investment needs.” If during this period the company undergoes share adjustments such as stock dividends, capital reserve to share capital conversion, rights issues, etc., the reduction amount will be adjusted accordingly.

Implementation Results: No reductions and early termination

On March 25, 2026, Quzhou Dongfeng received notices from the four shareholders that, as of that day, none of them had carried out any reduction actions during the plan period. The announcement shows that the original planned reduction quantities and actual reductions are as follows:

| Shareholder Name |

The announcement clearly states that the reduction plan has been提前 terminated, and there are no violations of the reduction plan or other commitments.

Reason for termination: Confidence in the company’s future development

Regarding the reason for terminating the reduction plan, Quzhou Dongfeng stated in the announcement that the four shareholders, including Huang Xiaojia, “based on their firm confidence in the company’s future development and high recognition of the company’s investment value,” decided to提前 terminate this reduction plan.

According to the disclosure, the four shareholders are all acting in concert as major shareholders holding over 5% of the company, namely Hong Kong Dongfeng Investment Group Co., Ltd. Among them, Huang Xiaojia directly holds 21.1616 million shares (1.10%), Chen Yujian holds 5.766 million shares (0.30%), Zeng Qingming holds 2.883 million shares (0.15%), and Zeng Qingtong holds 1.656 million shares (0.09%). Their share sources include centralized bidding transactions, block trades, stock dividends, capital reserve to share capital conversions, etc.

Shareholder Background and Equity Structure

The announcement shows that Hong Kong Dongfeng Investment Group Co., Ltd. is a major shareholder holding over 5% of the company’s shares. Shareholders include Huang Xiaojia, Huang Xiaopeng, etc.; Dongjie Holdings Limited (holding 2.44%) is wholly owned by Mr. Huang Bingwen’s nephew; Huang Bingquan (holding 1.30%) is Mr. Huang Bingwen’s brother; Chen Yujian (holding 0.30%) is Mr. Huang Bingwen’s sister-in-law; Zeng Qingming and Zeng Qingtong (holding 0.15% and 0.09%, respectively) are brothers-in-law of Mr. Huang Bingwen. These related parties collectively hold 414.1279 million shares, accounting for 21.52% of the company’s total share capital.

Quzhou Dongfeng stated that the board of directors and all directors guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or major omissions. Market analysis suggests that the termination of a share reduction plan by shareholders is generally viewed as a positive signal regarding the company’s fundamentals or as providing certain support for the stock price.

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. All 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, contact biz@staff.sina.com.cn.

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