Hongfa Technology's Major Shareholder to Transfer 5% Stake via Agreement

Stock News04-07

Hongfa Technology Co.,Ltd. (600885.SH) announced that its controlling shareholder, Youge Venture Capital Co., Ltd., signed a share transfer agreement on April 7, 2026 with Xiamen Zhengyue Yufa Enterprise Management Partnership. Youge Venture Capital intends to transfer 77.38 million of its non-restricted circulating shares, representing 5% of the company's total shares, to Zhengyue Yufa. The transfer price is set at 90% of the closing price of the shares on the trading day preceding the signing of the agreement, which amounts to 23.013 yuan per share. The total transaction value is 1.781 billion yuan. Before the transfer, Youge Venture Capital held 399,216,292 shares, accounting for 25.80% of the total share capital. After the transfer, its holding will decrease to 322 million shares, representing 20.80% of the total. Prior to this transaction, Zhengyue Yufa did not hold any shares in the company. Following the completion of the transfer, Zhengyue Yufa will hold 77.38 million shares, equivalent to a 5% stake in the company.

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