Shengyang Co., Ltd.: Explanation of Shanghai Kuande not entering the top ten and reducing holdings to below 5%

MaticHoleFiller · 2026-04-11T15:01:10+00:00

The investor inquired why there is no mention of the second shareholder who made a takeover bid in the shareholder register. The secretary of the board replied that because Shanghai Kuande holds shares through multiple private equity funds, and none of these funds are among the top ten shareholders, they are not listed separately. They also provided explanations from the relevant reports and announcement information.

MaticHoleFiller

2026-04-11 15:01:10

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Investor Question:

Hello, why don’t we see a second-largest shareholder who has increased their holdings in the shareholder register?

Secretary of the Board’s Answer (Shengyang Shares SZ002580):

Hello! The company strictly follows the shareholder register provided by China Securities Depository and Clearing Corporation Limited, and discloses the names, shareholdings, and rankings of the top ten shareholders in periodic reports. Since Shanghai Kuande Private Fund Management Center (Limited Partnership) (on behalf of its managed private securities investment funds, hereinafter referred to as “Shanghai Kuande”) holds shares through multiple private securities investment funds it manages, and the shareholdings of each individual private fund product did not rank among the top ten shareholders, they are not listed separately in the top ten shareholders disclosed in the periodic reports. The company has explained in the relevant sections of the 2025 semi-annual report and third quarter report, under the chapter “Shareholder Information and Shareholdings,” the reasons why Shanghai Kuande was not included in the top ten shareholders as of the end of the reporting periods, as well as the total shareholdings at the time of disclosure. Please refer to Note 4 of the 2025 semi-annual report and Note 2 of the 2025 third quarter report for specific details.

On March 18, 2026, the company disclosed the “Notice on the Change of Shareholder Rights Due to Reduction of Shareholding Below 5% for Shareholders Holding More Than 5%” (Announcement No.: 2026-007) and Shanghai Kuande issued the “Simplified Change of Rights Report.” After this change, Shanghai Kuande is no longer a shareholder holding more than 5% of the company’s shares. For details, please see the aforementioned announcement. Thank you for your attention!

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Disclaimer: This information is excerpted by Sina Finance from publicly available sources and does not constitute any investment advice; Sina Finance does not guarantee the accuracy of the data, and the content is for reference only.

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