On March 2, Yango Group Co.Ltd(000671) (hereinafter referred to as ” Yango Group Co.Ltd(000671) “) issued an announcement on the passive reduction of more than 1% of the company’s shares by the controlling shareholder.
According to the announcement, Yango Group Co.Ltd(000671) controlling shareholder Fujian Sunshine Group Co., Ltd. (hereinafter referred to as “Sunshine Group”), wholly-owned subsidiary of controlling shareholder Dongfang Xinlong Asset Management Co., Ltd. and Fujian Kangtian Industrial Group Co., Ltd., the person acting in concert with controlling shareholder, maintained the guarantee ratio lower than the closing line for some accounts, From December 7, 2021 to March 2, 2022, 103 million Yango Group Co.Ltd(000671) shares were passively reduced through centralized bidding, accounting for 2.49% of Yango Group Co.Ltd(000671) total share capital and more than 1% of Yango Group Co.Ltd(000671) total share capital.
After the reduction, the Yango Group Co.Ltd(000671) shares held by sunshine group and its persons acting in concert decreased from about 1.738 billion shares to 1.634 billion shares, and the shareholding ratio decreased from 41.97% to 39.47%.
Yango Group Co.Ltd(000671) said that the 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.
