Hunan YN New Energy Battery Materials Co., Ltd. Announcement on the Passive Dilution of Shareholding Ratio of the Largest Shareholder and Its Concerted Actors Exceeding 1%
The company and all members of the board guarantee that the content of the information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
Special Reminder:
- This change in equity is due to the company's implementation of an equity incentive plan and the issuance of shares to specific objects, resulting in the passive dilution of the shareholding ratio of the largest shareholder and its concerted actors, which does not trigger a mandatory tender offer.
- This change in equity does not lead to a change in the identity of the largest shareholder.
I. Basic Situation of the Change in Equity
- Passive dilution of shareholding ratio due to the implementation of the equity incentive plan Due to the implementation of the equity incentive plan by Hunan YN New Energy Battery Materials Co., Ltd. (hereinafter referred to as "the Company"), the first vesting period of the restricted stock incentive plan for 2024 has completed registration and will be listed and circulated on July 11, 2025. The total share capital of the company increased from 757,253,070 shares to 760,802,721 shares. The largest shareholder, Xiangtan Electric Group Co., Ltd. (hereinafter referred to as "Electric Group"), and its concerted actors, Xiangtan Electric Technology Co., Ltd. (hereinafter referred to as "Xiangtan Electric") and Xiangtan Zhenxiang State-owned Assets Operation Investment Co., Ltd. (hereinafter referred to as "Zhenxiang State Investment"), did not change the total number of shares held, and their combined shareholding ratio was passively diluted from 17.25% to 17.17%.