The controlling shareholder of Jin Taifeng International Holdings (09689) plans to reduce its holdings by up to 120 million shares

According to the Zhitong Finance App, Jin Taifeng International Holdings (09689) announced that the controlling shareholder of the company, Xing Ming Co., Ltd. signed a placement agreement with a placement agent on October 30, 2026 to sell up to 120 million of the company's existing shares through the placement agent, at HK$0.6231 per share. The placement period will commence on the date of the placement agreement and must be completed no later than December 30, 2026.

As of the date of this announcement, Xing Ming's executive director, chairman of the board of directors and controlling shareholder, has 80% of the shares, and Ms. Huang Sizhen, the executive director and spouse of Mr. Xu Ziming, holds 20% of Xing Ming's shares. Xing Ming holds approximately 480 million shares, accounting for about 43.02% of the company's total issued share capital, while 120 million shares placed account for about 10.75% of the company's total issued share capital. After the placement is completed and assuming that all of the placed shares are placed to the undertaker, Mr. Xu Ziming, Ms. Huang Sizhen and Xing Ming will remain the controlling shareholders of the company.