Dongbai Group's controlling shareholder cashes out 500 million yuan in 3 days; cashed out 320 million yuan at year-end last year

MaticHoleFiller · 2026-03-22T11:39:16+00:00

Dongbai Group released an announcement that its controlling shareholder Fengqi Investment and its concerted parties reduced their shareholding by a total of 43,492,300 shares, with the shareholding ratio after reduction declining to 55%. This change triggered the 1% and 5% thresholds, with total reduction amount of approximately 504 million yuan.

MaticHoleFiller

2026-03-22 11:39:16

Abstract generation in progress

Dongbai Group (600693.SH) announced yesterday evening that its controlling shareholder and its concerted action partners have reached the 1% and 5% change thresholds in their equity holdings. The company recently received a notice from its controlling shareholder, Fujian Fengqi Investment Co., Ltd. (hereinafter referred to as “Fengqi Investment”) and its concerted action partners regarding the change in their equity interests.

On March 17, 2026, Fengqi Investment reduced its holdings by 23,000,000 shares through block trading, accounting for 2.64% of the company’s total share capital. From March 16 to March 18, 2026, Shi Xia reduced her holdings by 20,492,300 shares through centralized bidding, representing 2.36% of the total share capital. After this change, Fengqi Investment and its concerted action partners Shi Zhangfeng and Shi Xia held a total of 478,415,399 shares, down from 521,907,699 shares, representing 55.00% of the total share capital, with the change reaching the 1% and 5% thresholds.

From March 16 to March 18, 2026, Fengqi Investment and Shi Xia collectively reduced their holdings by 43,492,300 shares. Fengqi Investment’s weighted average price was 11.595 yuan per share. Based on calculations, the total value of Fengqi Investment and Shi Xia’s disposals was approximately 504 million yuan.

The company’s controlling shareholder, Fengqi Investment, and Shi Zhangfeng and Shi Xia are concerted action partners.

According to a previous announcement on December 11, 2025, regarding changes in controlling shareholder equity interests reaching the 1% and 5% thresholds, Fengqi Investment reduced its holdings by 25,951,900 shares through centralized bidding on December 9, 2025, representing 2.98% of the company’s total share capital. After this change, Fengqi Investment and its concerted action partners Shi Zhangfeng and Shi Xia held 521,907,699 shares, down from 547,859,599 shares, accounting for 60.00% of the total share capital, with the change reaching the 1% and 5% thresholds. On December 9, 2025, the weighted average price of Dongbai Group was 12.33 yuan. Based on this, the reduction amount was approximately 320 million yuan.

(Responsible Editor: Tian Yunfei)

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