Yango Group Co.Ltd(000671) : Sunshine Group and Kangtian industry passively reduced their holdings of about 20.92 million shares, and the actual control has not changed

On February 16, Yango Group Co.Ltd(000671) (hereinafter referred to as ” Yango Group Co.Ltd(000671) “) issued a suggestive announcement on the passive reduction of shares held by controlling shareholders.

The announcement shows that from February 14 to February 16, 2022, Yango Group Co.Ltd(000671) controlling shareholder Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”) and controlling shareholder Fujian Kangtian Industry Group Co., Ltd. (hereinafter referred to as “Kangtian industry”) passively reduced 20918600 shares of Yango Group Co.Ltd(000671) shares through centralized bidding because the proportion of maintenance guarantee in some accounts was lower than the closing line, Accounting for 0.51% of the total share capital of Yango Group Co.Ltd(000671) .

After this reduction, sunshine group holds a total of Yango Group Co.Ltd(000671) 663 million shares, accounting for 16.02% of the total share capital of Yango Group Co.Ltd(000671) ; Kangtian industry holds Yango Group Co.Ltd(000671) 390 million shares in total, accounting for 9.2% of the total share capital.

Yango Group Co.Ltd(000671) said that the reduction of holdings through centralized bidding is the passive reduction of holdings by sunshine group and persons acting in concert. Sunshine group and persons acting in concert have been actively communicating and coordinating with creditors, and carried out debt extension, fund-raising and other relevant measures to reduce the adverse impact of the passive reduction of shares according to the requirements of the pledgee. This passive reduction will not have a material impact on the corporate governance structure and sustainable operation, nor will it directly lead to the change of the company’s control.

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