Huaqin Technology (03296.HK) Employee Shareholding Platforms Plan Combined Reduction of Up to 4.1M Shares

NewTimeSpace · 2026/06/22 21:48 · By Zeyu Wu

Huaqin Co., Ltd. (3296.HK) announced that its employee shareholding platforms Hainan Qinyuan, Hainan Chuangjian and Hainan Huaxiao plan to reduce their shareholdings by up to 4,105,700 shares (no more than 0.27% of total share capital) within three months starting 15 trading days after disclosure (July 14 to October 13, 2026) via centralized competitive bidding and block trading, due to their own funding needs; the shares to be reduced were obtained prior to IPO and through capital reserve conversion, with prices determined by market rates, and the reduction is consistent with prior lock-up commitments and will not materially affect corporate governance or ongoing operations.

Huaqin Co., Ltd. (3296.HK) disclosed on June 22, 2026, a shareholder share reduction plan. As of the date of this announcement, Hainan Qinyuan Venture Investment Partnership (Limited Partnership) holds 70,111,442 unrestricted tradable shares, representing 4.62% of the Company's total share capital; Hainan Chuangjian Venture Investment Partnership (Limited Partnership) holds 67,419,408 unrestricted tradable shares, representing 4.45%; and Hainan Huaxiao Venture Investment Partnership (Limited Partnership) holds 64,626,179 unrestricted tradable shares, representing 4.26%. These shares were obtained prior to the Company's IPO and through capital reserve conversion into share capital. The aforementioned shareholders are all employee shareholding platforms of the Company.

Due to their own funding requirements, Hainan Qinyuan, Hainan Chuangjian and Hainan Huaxiao propose to reduce their shareholdings through centralized competitive bidding and block trading within three months after 15 trading days from the date of disclosure of this plan, with a total reduction not exceeding 4,105,700 shares, representing no more than 0.27% of the Company's total share capital. Specifically, Hainan Qinyuan plans to reduce no more than 882,300 shares (no more than 0.06%), Hainan Chuangjian no more than 495,900 shares (no more than 0.03%), and Hainan Huaxiao no more than 2,727,500 shares (no more than 0.18%). The reduction period is from July 14, 2026 to October 13, 2026. The reduction price will be determined according to the market price at the time of actual implementation.

These shareholders have previously made share lock-up and reduction commitments, including a commitment that the reduction price shall not be lower than the IPO price within two years after the lock-up period expires. The proposed reduction is consistent with previously disclosed commitments. These shareholders are not subject to any circumstances prohibiting share reduction. This reduction plan is independently determined by the shareholders based on their own funding needs and will not have a material impact on the Company's corporate governance structure or ongoing operations.

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