CONCH MAT TECH (02560.HK): Major Shareholder's 39 Million Domestic Shares Frozen, 6.73% of Capital
- Linyi Haihong directly holds 64,661,600 domestic shares and 8,698,400 H shares of the Company.
- Linyi Haihong is held as to approximately 83.66%, 11.41% and 4.93% by non-executive director Zhao Hongyi, Chen Jun and Zhuzhou Hongxin respectively.
- The Company considers the freeze will not materially affect the Group's normal business operations, corporate governance and daily management.
NewTimeSpace News: On 20 September 2026, Anhui Conch Material Technology Co., Ltd. (stock code: 02560) announced that the Company was recently informed that 39,000,000 domestic shares of the Company, representing approximately 6.73% of its total issued shares, held by Linyi Haihong New Material Technology Co., Ltd., one of its major shareholders, have been judicially frozen. The freeze was executed by the Hedong District People's Court of Linyi City and will last until 17 September 2029 at the latest. The announcement was made pursuant to Rule 13.09 of the Listing Rules and the inside information provisions under Part XIVA of the Securities and Futures Ordinance.
The Board confirmed that, to the best of its knowledge, the freeze arose from a civil dispute involving Linyi Haihong and is unrelated to the Company. As at the date of the announcement, Linyi Haihong directly held 64,661,600 domestic shares and 8,698,400 H shares, representing approximately 12.65% of the Company's total issued shares. Linyi Haihong is held as to approximately 83.66%, 11.41% and 4.93% by Mr. Zhao Hongyi, a non-executive director, Mr. Chen Jun and Zhuzhou Hongxin Technology Development Co., Ltd. respectively; Mr. Chen Jun and Zhuzhou Hongxin Technology Development Co., Ltd. are independent third parties of the Company (save for being minority shareholders of Linyi Haihong).
The Company considers that the freeze will not have any material adverse impact on the Group, as it is unrelated to the Company and will not affect the Group's normal business operations, corporate governance and daily management. The Company will continue to monitor further developments and timely fulfil its information disclosure obligations.
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