Qixiang Tengda: Controlling shareholder terminates its shareholding reduction plan ahead of schedule

Securities Times e company news, Qixiang Tengda (002408) announced on the morning of November 22 that the company’s controlling shareholder Qixiang Group decided to terminate its shareholding reduction plan in advance. Prior to this, Qixiang Group planned to reduce its holdings by no more than 2% of the company’s shares through a centralized bidding transaction from November 1, 2021 to April 30, 2022, and plans to reduce its holdings by approximately 56.175 million shares. Up to now, the Qixiang Group’s shareholding reduction plan has not been implemented. On November 19, after announcing that the controlling shareholder received a notice from the China Securities Regulatory Commission for suspected insider trading and other illegal activities, Qixiang Tengda’s share price fell to the limit. Subsequently, the chairman of the company announced a plan to increase the holdings, with the amount of holdings increased between 100 million yuan and 150 million yuan.