---
title: "SMEG plans to sell its shares in Bank of Shanghai at an opportune time"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/238869458.md"
description: "SMEG plans to opportunistically sell its 2.47 million shares of Bank of Shanghai, accounting for approximately 0.02% of its total share capital. This move aims to improve asset liquidity and utilization efficiency, enhancing financial robustness. It is expected that if all shares are sold, the proceeds will exceed 10% of the net profit for the 2024 fiscal year, but will not meet the standards for shareholder meeting review"
datetime: "2025-05-06T09:08:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/238869458.md)
  - [en](https://longbridge.com/en/news/238869458.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/238869458.md)
---

# SMEG plans to sell its shares in Bank of Shanghai at an opportune time

According to the announcement from Zhitong Finance APP, Shanghai Sanmao (600689.SH) has announced that the company currently holds 2.47 million shares of Bank of Shanghai listed on the Shanghai Stock Exchange, accounting for less than 0.02% of the total share capital of Bank of Shanghai. To further improve the liquidity and efficiency of its assets and enhance the robustness of its financial statements, the company plans to opportunistically sell all or part of its shares in Bank of Shanghai through a centralized bidding method (including any additional shares acquired during the authorization period due to stock dividends, capital reserve transfers, etc.).

According to the company's preliminary estimates, if the company sells all its shares in Bank of Shanghai, the expected gains from the reduction in holdings, after deducting the cost of shares and related taxes, will account for more than 10% of the audited net profit attributable to the parent company's shareholders for the most recent period (2024 fiscal year), but will not meet the standards for review by the shareholders' meeting

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