Xinjiang Baodi Mining's six shareholders plan to collectively reduce their holdings by no more than 19.558 million shares, accounting for 2.13% of the total share capital.

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On March 21, Xinjiang Baodi Mining Co., Ltd. (hereinafter referred to as “Baodi Mining”) released an announcement stating that it has received a “Notification Letter on the Reduction Plan” from six designated shareholders, including Ningbo Yongfeng Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Ningbo Yongfeng”) and Xinjiang Haiyi Equity Investment Co., Ltd. (hereinafter referred to as “Haiyi Investment”). Due to their own funding needs, the above shareholders plan to reduce the company’s shares by a maximum of 19.558 million shares over the next 3 months through centralized bidding, representing 2.13% of the company’s total share capital.

Major Shareholders and Plan Details

The announcement shows that all six shareholders proposed for reduction are shareholders holding less than 5% of the company’s shares, and the source of their holdings mostly comes from shares acquired before the IPO. Each shareholder’s specific reduction plan is as follows:

Judging by the reduction scale, Haiyi Investment is the main subject of this reduction, with a planned reduction quantity of 9.1653 million shares, accounting for 1% of the company’s total share capital; the reduction ratios of the other shareholders are all below 1%. The reduction price will be determined based on the market price at that time. If, during the period, the company conducts any ex-rights/ex-dividends events, the number of shares to be reduced will be adjusted accordingly.

Reduction Background and Compliance

The announcement indicates that the source of the above shareholders’ shares is mainly shares obtained before the IPO, and among them Ningbo Yongfeng additionally acquired 74 shares through centralized bidding transactions. According to the commitments made by each shareholder in the “Prospectus for the Initial Public Offering of Shares,” after the lock-up period expires, any reduction of shares will strictly comply with the relevant regulations of the securities regulatory authorities, and the reduction plan will be disclosed in advance. This reduction plan is consistent with the prior commitments and does are no violations.

Risk Warning

Baodi Mining states that this reduction is determined independently by the shareholders due to their own funding needs, and will not affect the company’s corporate governance structure or ongoing operations. However, during the reduction period, shareholders will decide whether to implement the reduction plan and how to implement it based on factors such as market conditions and stock price, so there is some uncertainty. At the same time, this reduction plan will not result in any change in the company’s controlling rights.

The company will continue to monitor the progress of this reduction plan and, in accordance with relevant regulations, timely fulfill its information disclosure obligations. Investors should view shareholders’ share reduction behavior rationally and pay attention to investment risks.

Statement: There are risks in the market; invest with caution. 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 appearing in this article is for reference only and does not constitute personal investment advice. If there are discrepancies, please refer to the actual announcement. If you have any questions, please contact biz@staff.sina.com.cn.

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Responsible editor: Xiao Lang Express