SDHG Announces Resolution of Previous High Shareholding Concentration; Shareholder Base Broadens Significantly

Shandong Hi-Speed Holdings Group Limited (SDHG) reported that the shareholding concentration highlighted by the Hong Kong Securities and Futures Commission on 18 September 2025 has been effectively resolved. An updated analysis dated 26 May 2026 shows a more diversified investor base and a reduced aggregate stake held by the largest shareholders.

Key findings from the company-commissioned review are as follows:

1. Reduced dominance of top holders: • On 1 September 2025, the 22 largest shareholders controlled 92.46 % of SDHG’s issued shares. As of 26 May 2026, that figure had fallen to 88.42 %, a decrease of 4.04 percentage points.

2. Expanded mid-sized shareholder cohort: • Shareholders owning at least 100,000 shares increased from 132 to 1,097 over the period, indicating a substantially broader ownership base.

3. Current ownership structure (26 May 2026, total shares in issue: 6.02 billion): • Shandong Hi-Speed Group Co., Ltd. – 2.61 billion shares (43.37 %). • JS High Speed Limited – 1.23 billion shares (20.37 %). • Ten investors each holding more than 10 million shares – 1.41 billion shares (23.47 %), comprising: – Shanghai Connect participants: 0.55 billion shares (9.13 %). – Shenzhen Connect participants: 0.22 billion shares (3.71 %). – Other investors: 0.64 billion shares (10.64 %). • Remaining investors holding between 100,000 and 10 million shares – 0.54 billion shares (9.03 %). • Other small shareholders – 0.22 billion shares (3.69 %). • Treasury shares – 3.70 million (0.06 %).

4. Comparative snapshot (1 September 2025, same total shares outstanding): • Shandong Hi-Speed Group Co., Ltd. – 2.61 billion shares (43.37 %). • JS High Speed Limited – 1.51 billion shares (25.09 %). • Thirty-two investors with more than 10 million shares – 1.60 billion shares (26.54 %). • Remaining investors with 100,000 to 10 million shares – 0.17 billion shares (2.81 %). • Other shareholders – 0.13 billion shares (2.19 %).

Management concludes that the concentration previously identified—where 92.46 % of shares were in the hands of 22 investors—has eased, with a material increase in the number of medium-sized shareholders and a lower combined stake for the largest holders.

The board affirms that, as of 26 May 2026, no high shareholding concentration exists. The disclosure is voluntary and aims to enhance transparency for shareholders and potential investors.