Mokingran Jewellery (02585.HK) Employee Shareholding Platforms to Trim 10.13M H Shares, Combined Stake Drops to 10.94%
Mokingran Jewellery Group Co., Ltd. (2585.HK) issued a voluntary announcement on June 23, 2026, disclosing a share reduction plan by its employee shareholding platforms.
The Board was informed that the Company's employee shareholding platforms, namely Tianjin Jinlong Enterprise Management Partnership (Limited Partnership), Tianjin Jinmeng Enterprise Management Partnership (Limited Partnership) and Tianjin Jinyuan Enterprise Management Partnership (Limited Partnership), recently plan to gradually reduce their holdings of the Company's H shares, totaling 10.13 million shares. Specifically, Jinlong Partnership held 9,000,000 shares (3.30%) before reduction, plans to reduce 5,590,000 shares, and will hold 3,410,000 shares (1.25%) after reduction; Jinmeng Partnership held 22,000,000 shares (8.06%), plans to reduce 4,450,000 shares, and will hold 17,550,000 shares (6.43%); Jinyuan Partnership held 9,000,000 shares (3.30%), plans to reduce 90,000 shares, and will hold 8,910,000 shares (3.26%). The three platforms collectively held 40,000,000 shares (14.65%) before reduction, and will hold 29,870,000 shares (10.94%) after reducing 10,130,000 shares.
The reduction will be conducted in compliance with applicable laws and regulations, the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and the disclosure obligations under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The expected reduction methods include direct on-market sales and/or block trades. The proceeds from the reduction will be distributed to relevant employees according to the rules of each shareholding platform.
As of the date of this announcement, Mr. Wang Zhongshan, the controlling shareholder and executive director, is deemed to control the majority limited partnership interests in Jinmeng Partnership, and Ms. Zhang Xiuqin, the controlling shareholder and executive director (wife of Mr. Wang Zhongshan), is deemed to control the majority limited partnership interests in Jinyuan Partnership and Jinlong Partnership. Under the Securities and Futures Ordinance, Mr. Wang and Ms. Zhang are deemed to be interested in the shares of the Company directly held by Jinlong Partnership, Jinmeng Partnership and Jinyuan Partnership. Upon full completion of the above reduction, and assuming no further changes in the Company's shareholding structure, the combined shareholding of Mr. Wang and Ms. Zhang in the Company will remain above 50%, and their control over the Company will not have materially changed.
The reduction by the shareholding platforms is a voluntary and independent decision made by the directors (including Ms. Zhang), senior management and employees participating in the platforms, based on their own capital arrangements and investment plans, to realize the economic value of their shareholdings. The Board confirmed that the reduction does not involve any material adverse change in the Company's operating conditions or fundamentals, nor does it affect the Group's daily operations, management stability or future development plans.
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