Fujian East Power (000993.SZ) shareholder Provincial Investment Group plans to reduce holdings by no more than 1% of shares, accounting for 1% of the total share capital.

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Fujian Mindong Electric Power Group Co., Ltd. (hereinafter referred to as “Mindong Electric Power”, stock code: 000993.SZ) announced on April 2, 2026, that the company’s shareholder holding more than 5%, Fujian Investment Development Group Co., Ltd. (hereinafter referred to as “Provincial Investment Group”) plans to reduce its holdings of the company’s shares through centralized bidding trading within the next three months, with a reduction not exceeding 4.5795 million shares, accounting for 1% of the company’s total share capital.

Shareholder and Shareholding Status

The announcement shows that Provincial Investment Group currently holds 23.8M shares of Mindong Electric Power, accounting for 5.20% of the company’s total share capital, making it a shareholder holding more than 5%. Notably, prior to this reduction plan, Provincial Investment Group had already reduced its holdings once in December 2025. From December 3 to December 12, 2025, it reduced 2.9 million shares of Mindong Electric Power through centralized bidding trading, accounting for 0.63% of the company’s total share capital, with a reduction price range of 13.92 yuan/share to 14.35 yuan/share.

Details of This Reduction Plan

According to the announcement, the reason for Provincial Investment Group’s reduction is “business needs.” The specific reduction arrangements are as follows:

• Reduction Period: April 27, 2026, to July 24, 2026, a total of three months;
• Reduction Method: Centralized bidding trading;
• Reduction Quantity: No more than 4.5795 million shares, i.e., no more than 1% of the company’s total share capital;
• Reduction Price: Determined based on market prices;
• Reduction Restrictions: Within any continuous ninety calendar days, the total shares reduced shall not exceed 1% of the company’s total share capital. If during the implementation of the reduction plan, the company undergoes share issuance, capital increase, new share issuance, or rights issue, the number of shares to be reduced will be adjusted accordingly.

Historical Reduction Review

Risk Reminder

Mindong Electric Power reminds in the announcement that this reduction plan is independently decided by Provincial Investment Group based on its own operational needs. During the reduction period, Provincial Investment Group will choose whether and how to implement the reduction plan based on market conditions, company stock price, and other factors. Therefore, the quantity and price of the reduction are uncertain.

Meanwhile, the announcement emphasizes that Provincial Investment Group is not a controlling shareholder or actual controller of the company. This share reduction plan is a normal reduction behavior and will not have a significant impact on the company’s governance structure or future sustainable operations, nor will it lead to a change in the company’s control. Provincial Investment Group will strictly comply with the “Securities Law of the People’s Republic of China,” “Interim Measures for the Management of Shareholders’ Reduction of Listed Companies,” and other relevant regulations, implement the reduction as planned, and fulfill information disclosure obligations in a timely manner.

The Board of Directors of Mindong Electric Power reminds investors to invest rationally and be aware of investment risks.

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

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Editor: Xiao Lang Express