Zhejiang Shibao (01057) Holdings Limited, the controlling shareholder of Shibao Holdings, plans to reduce its holdings by approximately 16.45 million A-shares.

Wisdom Finance News APP reports that Zhejiang Shibao (01057) announced that the company recently received a "Notice Letter on Planned Reduction of Company Shares" from its controlling shareholder, Zhejiang Shibao Holdings Group Co., Ltd. (hereinafter referred to as "Shibao Holdings"). Shibao Holdings plans to reduce the company's A shares by a total of approximately 16.45 million shares within 3 months after 15 trading days from the disclosure of this announcement (i.e. from September 19, 2025 to December 17, 2025, not reducing during sensitive periods), not exceeding 2% of the company's total share capital.