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Zhejiang Shibao Co. Ltd. Class H ( (HK:1057) ) has shared an announcement.
Zhejiang Shibao Company Limited has disclosed that its controlling shareholder, Zhejiang Shibao Holding Group, has begun executing a previously announced shareholding reduction plan. On 22 May 2026, Shibao Holding sold a total of 9,128,197 A shares via centralized bidding and block trades, cutting the combined stake of the controlling shareholder and its concert party from 36.11% to 35.00% of total share capital and triggering 1% and 5% disclosure thresholds under Hong Kong rules.
The company emphasized that this equity change will not alter its controlling shareholder, actual controllers, or overall governance structure, and it expects no significant impact on future operations. Management will continue to track and disclose further disposals under the ongoing reduction plan, underscoring transparency for investors while the controlling shareholder gradually reduces its exposure within regulatory limits.
More about Zhejiang Shibao Co. Ltd. Class H
Zhejiang Shibao Company Limited is a PRC-incorporated joint stock company listed in Hong Kong, operating in the automotive components sector. The group focuses on steering system products and related parts for vehicles, serving domestic Chinese manufacturers and the broader automotive market through its A-share listing and Hong Kong-traded H shares.
Average Trading Volume: 17,619,428
Technical Sentiment Signal: Buy
Current Market Cap: HK$13.73B
See more insights into 1057 stock on TipRanks’ Stock Analysis page.