Suzhou Hechang's three senior executives plan to collectively reduce their holdings by no more than 400k shares, accounting for 0.26% of the total share capital.

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On March 31, 2026, Suzhou Hechang Polymer Materials Co., Ltd. (hereinafter referred to as “Suzhou Hechang Polymer”) issued a pre-disclosure announcement regarding the shareholders’ proposed share reduction. The company’s general manager Zhou Jiajin, director and deputy general manager Shi Yaoqi, and deputy general manager and board secretary Yu Qian plan to reduce their shares through centralized bidding or block trades, with a total reduction of no more than 400,000 shares, representing 0.26% of the company’s total share capital.

Subject of the Reduction and Shareholding Information

The announcement shows that all three shareholders proposed to reduce their holdings are senior executives of the company, and their shareholdings were obtained prior to the listing (including shares received through capitalization from rights distribution and bonus share issuance). The specific shareholding details are as follows:

Details of the Share Reduction Plan

According to the announcement, the main contents of the share reduction plans of the three shareholders are as follows:

The announcement specifically notes that if, during the implementation period of the share reduction plan, the company has matters involving distribution of dividends, issuance of bonus shares, capitalization through transfer, issuance of new shares, or rights issues, the corresponding share reduction quantity will be adjusted while keeping the share reduction ratio unchanged.

Share Reduction Compliance and Risk Reminder

Suzhou Hechang Polymer stated in the announcement that this share reduction plan does not involve any violation of laws and regulations such as the Company Law, the Securities Law, the Rules Governing the Stock Listing of the Beijing Stock Exchange, or other relevant provisions, and also does not breach any share reduction commitments previously made by the relevant shareholders. The three shareholders had previously made commitments regarding share lock-up and share reduction matters, and as of the date of disclosure of the announcement, all such commitments have been strictly fulfilled, with no instances of breach.

The announcement also emphasizes that this share reduction will not lead to any change in the company’s controlling shareholder or actual controller, will not adversely affect the company’s production and operations, and the company has no major negative events or major risks. Within six months after the completion of the share reduction, the relevant shareholders have no plans to increase their holdings, and after the implementation of this share reduction is completed, it will not cause the company to trigger the scenario of mandatory delisting due to major illegalities.

However, the company reminds that the above-mentioned shareholders will implement the share reduction plan according to market conditions, the company’s stock price, and other factors; the share reduction quantity and price have uncertainties, and there may be risks that the plan cannot be fully implemented or may be implemented only partially. During the implementation of the share reduction, the relevant shareholders will strictly comply with the relevant regulations on share reduction and promptly fulfill their information disclosure obligations.

The specific implementation of this share reduction plan still needs to be followed through with the subsequent announcements of Suzhou Hechang Polymer.

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Editor: Xiao Lang Express