Kaie Network's actual controller plans to increase their stake in the company by no less than 150 million yuan.

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(Source: Caiwen)

The implementation period for the share increase plan is no more than 6 months from the date of disclosure of the plan announcement. No additional purchases will be made during the window period.

On March 12, Kaiying Network (002517.SZ) announced that the company’s controlling shareholder, actual controller, and chairman Jin Feng plans to increase his holdings of the company’s shares.

As of the disclosure date of this announcement, Jin Feng directly owns 320,319,849 shares, accounting for 14.99% of the total share capital. Through Shaoxing Ansheng Enterprise Management Partnership (Limited Partnership), he holds 112,477,078 shares, accounting for 5.26%. In total, he holds 432,796,927 shares, representing 20.26% of the total share capital.

According to the share increase plan, Jin Feng intends to purchase no less than RMB 150 million, with funds sourced from his own or self-raised funds. The purchase methods include, but are not limited to, centralized bidding, block trades, and other direct or indirect methods permitted by the Shenzhen Stock Exchange. The implementation period for the plan is no more than 6 months from the date of disclosure, and no purchases will be made during the window period. The purpose of the increase is based on confidence in the company’s future development prospects and a reasonable judgment of the company’s stock value, as well as to boost investor confidence and effectively protect the interests of small and medium investors and maintain stability in the capital market.

There are risks that the share increase plan may not be implemented due to market changes or other factors. There is also a risk that the plan may be delayed or not executed if the funds are not available in time. Additionally, due to Jin Feng’s specific status, such as losing relevant qualifications, the plan may no longer be carried out. If any of these risks materialize during the implementation, the company will fulfill its disclosure obligations in a timely manner. Furthermore, this plan complies with the Securities Law, departmental regulations, and Shenzhen Stock Exchange rules. Its implementation will not affect the company’s listing status or cause the company’s share distribution to fall below listing requirements.

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