On June 3, Hunan Yuneng, a leading producer of lithium iron phosphate (LFP) materials, issued two shareholder reduction announcements.
According to one announcement, CATL, which holds approximately 59.8461 million shares of Hunan Yuneng (representing 7.10% of the total share capital), plans to reduce its holdings by a total of approximately 25.3002 million shares, or no more than 3% of the company's total share capital, within three months starting 15 trading days after the disclosure date of this reduction plan. The reduction will be carried out through centralized bidding and block trading. The reason for the reduction is normal investment arrangements and fund management needs. The price range will be determined based on the secondary market price at the time of reduction and the trading method.
According to another announcement, Jinsheng New Materials, which holds approximately 60.0496 million shares of Hunan Yuneng (representing 7.10% of the total share capital), plans to reduce its holdings by a total of approximately 21.0835 million shares, or no more than 2.5% of the company's total share capital, within three months starting 15 trading days after the disclosure date of this reduction plan. The reduction will be carried out through block trading and centralized bidding.
Edited by Cassie Li, lixiangying@mysteel.com
