---
title: "The actual controller of GUOGUANG CHAINS plans to reduce holdings by no more than 2.99% of shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/255943172.md"
description: "GUOGUANG CHAINS announced that the actual controller Hu Jingen plans to reduce his holdings by no more than 12.506 million shares within 90 days, accounting for 2.49% of the total share capital; Hu Chunxiang plans to reduce her holdings by no more than 2.506 million shares, accounting for 0.5% of the total share capital. The reduction price will be determined based on market prices and will not be lower than the initial public offering price"
datetime: "2025-09-04T11:14:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/255943172.md)
  - [en](https://longbridge.com/en/news/255943172.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/255943172.md)
---

# The actual controller of GUOGUANG CHAINS plans to reduce holdings by no more than 2.99% of shares

According to the announcement from Guoguang Chains (605188.SH), due to personal funding needs of one of the actual controllers and chairman Hu Jingen, and in compliance with legal regulations, it is planned to reduce the number of shares held by no more than 12.506 million shares within 90 days after 15 trading days from the announcement of this reduction plan, through centralized bidding or block trading, accounting for no more than 2.49% of the company's total share capital and 6.04% of the shares held by him before this reduction. The reduction price will be determined based on the secondary market price at the time of reduction and will not be lower than the issue price of the company's initial public offering.

Due to personal funding needs of one of the actual controllers, director, and deputy general manager Hu Chunxiang, and in compliance with legal regulations, it is planned to reduce the number of shares held by no more than 2.506 million shares within 90 days after 15 trading days from the announcement of this reduction plan, through centralized bidding trading, accounting for no more than 0.5% of the company's total share capital and 23.26% of the shares held by her before this reduction. The reduction price will be determined based on the secondary market price at the time of reduction and will not be lower than the issue price of the company's initial public offering

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