263 Holdings' Controlling Shareholder Li Xialong Plans to Reduce Holdings of No More Than 27.5074 Million Shares, Accounting for 2% of Total Share Capital

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On March 17, 2026, 263 Network Communications Co., Ltd. (hereinafter referred to as “263”) announced that its controlling shareholder, Li Xiaolong, plans to reduce his holdings of the company’s shares within the next three months through block trades and centralized bidding, with a reduction not exceeding 27,507,436 shares, accounting for 2% of the total share capital.

Basic Information of Shareholder

As of the disclosure date, Li Xiaolong holds 175,717,541 shares of 263, accounting for 12.78% of the total share capital, making him the company’s controlling shareholder.

Details of the Reduction Plan

The announcement states that if there are changes in shares due to stock dividends, capital reserve converted into share capital, rights issues, etc., during the reduction period, the number of shares reduced and the proportion of the total share capital will be adjusted accordingly.

Shareholder Commitment and Performance

Li Xiaolong previously made a commitment regarding share lock-up periods: from the date of the company’s stock listing for 36 months, he will not transfer or entrust others to manage his directly or indirectly held shares issued before the company’s public offering, nor will the company repurchase these shares; after the lock-up period expires, during his tenure, he will not transfer more than 25% of his total holdings annually, and within six months after leaving office, he will not transfer shares; if he resigns before the end of his term, during the term and six months after the term, he will not transfer more than 25% of his holdings annually.

As of the announcement date, Li Xiaolong has strictly fulfilled the above commitments. The current reduction plan is consistent with previously disclosed intentions and commitments, with no violations or circumstances outlined in Articles 5 to 9 of the Shenzhen Stock Exchange’s “Guidelines for Self-Regulation of Listed Companies No. 18—Shareholders, Directors, and Senior Management’s Reduction of Shares.”

Risk Reminder

263 reminds that this reduction plan is a pre-disclosure, and Li Xiaolong will decide whether and how to implement it based on market conditions, the company’s stock price, and other factors. Therefore, there is uncertainty regarding the timing, amount, and price of the reduction, as well as whether it will be completed as scheduled.

The company also states that the implementation of this reduction plan will not affect the company’s governance structure or ongoing operations, will not lead to a change in control, and the company’s fundamentals have not undergone significant changes. The company will supervise relevant shareholders to strictly comply with laws, regulations, and internal rules, and to fulfill information disclosure obligations promptly.

Investors should be aware of investment risks and view shareholder reductions rationally.

Disclaimer: The market carries risks; investments 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 accuracy. If you have questions, contact biz@staff.sina.com.cn.

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Editor: Xiao Lang Kuai Bao