Zhejiang Shibao Shares Decline Over 3% Following Major Shareholder's Stake Reduction

Stock News05-27

Zhejiang Shibao Company Limited (01057) saw its shares drop more than 3%. At the time of writing, the stock was down 3.13% to HKD 4.96, with a turnover of HKD 35.78 million. The decline follows a company announcement dated May 25, which stated that the closing price of its A-shares had deviated by a cumulative +20% or more over three consecutive trading days (May 21, May 22, and May 25, 2026). The company confirmed that its recent operations are normal, with no significant changes in its internal or external business environment. Upon self-review, it was disclosed that the controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd. (referred to as Shibao Holding), reduced its holdings of the company's A-shares by a total of 9.128 million shares on May 22, 2026, representing 1.11% of the company's total share capital. This share reduction was executed in accordance with the previously disclosed divestment plan.

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