<p>香港，2026 年 3 月 30 日 -（ACN Newswire）- 在过去两年中，首程控股（0697.HK）在资本市场上持续面临重大估值压力，即早期股东通过大宗交易逐步退出所造成的供给侧压力。</p>
<p>在他的董事长声明中，董事长赵天阳表示，这一历史性问题现在已进入明显缓解阶段。回顾公司的股东结构，首程控股在创业和转型阶段引入了多轮战略投资者。天使轮投资者包括周大福企业和 ORIX；A 轮投资者包括厚朴、京东和北京国有资本运营管理中心；而 B 轮投资者则包括阳光保险等机构。这些股东支持公司的发展时间从三到五年到长达七到八年不等，他们的逐步退出本质上是公司成长过程中资本轮换的正常过程。</p>
<p>更重要的是，赵天阳在声明中指出，退出股东出售的大部分股份被来自中国和海外的顶级国际投资者和专业机构投资者主动接手。这意味着之前困扰市场的抛售压力在很大程度上已被吸收。这也表明，股权正在从早期和纯粹的金融投资者转向对公司长期价值主张有更强信心的专业机构，导致股东结构和股东质量的同时改善。对于市场而言，这不仅是供给侧压力的拐点，也是估值逻辑转变的基础。</p>
<p>董事长赵天阳还表示，公司决心确保不同阶段的投资者都能分享公司成长的红利，进一步增强市场对公司长期价值实现的预期。</p>
<p>来源：首程控股</p>
<p>版权 2026 ACN Newswire。保留所有权利。</p>

首程控股

<p>首程控股已解决因早期股东退出而导致的重大估值压力。董事长赵天阳宣布，这一问题正在缓解，退出股东所售出的股份已被顶级国际和机构投资者吸纳。这一变化表明，从早期投资者向专业机构的转变，提高了股东的质量和结构。公司旨在确保所有投资者都能从其增长中受益，增强对其长期价值实现的预期</p>

<p>HONG KONG, Mar 30, 2026 - (ACN Newswire) - Over the past two years, Shoucheng Holdings (0697.HK) has persistently faced a major valuation overhang in the capital markets, namely the supply-side pressure created by the gradual exit of early shareholders through block trades.</p>
<div class="lb-trans"><p>香港，2026 年 3 月 30 日 -（ACN Newswire）- 在过去两年中，首程控股（0697.HK）在资本市场上持续面临重大估值压力，即早期股东通过大宗交易逐步退出所造成的供给侧压力。</p>
</div><p>In his Chairman's Statement, Chairman Zhao Tianyang said that this historical issue has now entered a stage of clear easing. Looking back at the company's shareholder structure, Shoucheng Holdings introduced multiple rounds of strategic investors during its entrepreneurial and transformation phases. Angel-round investors included Chow Tai Fook Enterprises and ORIX; Series A investors included Hopu, JD.com, and Beijing State-owned Capital Operation and Management Center; while Series B investors included institutions such as Sunshine Insurance. These shareholders supported the company's development for periods ranging from three to five years to as long as seven to eight years, and their gradual exits are, in essence, a normal process of capital rotation during a company's growth.</p>
<div class="lb-trans"><p>在他的董事长声明中，董事长赵天阳表示，这一历史性问题现在已进入明显缓解阶段。回顾公司的股东结构，首程控股在创业和转型阶段引入了多轮战略投资者。天使轮投资者包括周大福企业和 ORIX；A 轮投资者包括厚朴、京东和北京国有资本运营管理中心；而 B 轮投资者则包括阳光保险等机构。这些股东支持公司的发展时间从三到五年到长达七到八年不等，他们的逐步退出本质上是公司成长过程中资本轮换的正常过程。</p>
</div><p>More importantly, Zhao Tianyang noted in the statement that most of the shares sold by exiting shareholders were proactively taken up by top-tier international investors and professional institutional investors from both China and overseas. This means that the sell-down pressure that previously troubled the market has largely been absorbed. It also indicates that ownership is shifting from early-stage and purely financial investors to professional institutions with stronger conviction in the company's long-term value proposition, resulting in simultaneous improvements in both shareholder structure and shareholder quality. For the market, this is not only an inflection point in supply-side pressure, but also the basis for a shift in valuation logic.</p>
<div class="lb-trans"><p>更重要的是，赵天阳在声明中指出，退出股东出售的大部分股份被来自中国和海外的顶级国际投资者和专业机构投资者主动接手。这意味着之前困扰市场的抛售压力在很大程度上已被吸收。这也表明，股权正在从早期和纯粹的金融投资者转向对公司长期价值主张有更强信心的专业机构，导致股东结构和股东质量的同时改善。对于市场而言，这不仅是供给侧压力的拐点，也是估值逻辑转变的基础。</p>
</div><p>Chairman Zhao Tianyang also stated that the company is determined to ensure that investors at different stages can all share in the rewards of the company's growth, further strengthening market expectations for the realization of the company's long-term value.</p>
<div class="lb-trans"><p>董事长赵天阳还表示，公司决心确保不同阶段的投资者都能分享公司成长的红利，进一步增强市场对公司长期价值实现的预期。</p>
</div><p>Source: Shoucheng Holdings</p>
<div class="lb-trans"><p>来源：首程控股</p>
</div><p>Copyright 2026 ACN Newswire . All rights reserved.</p>
<div class="lb-trans"><p>版权 2026 ACN Newswire。保留所有权利。</p>
</div>

从抛售压力到大量机构持股：首程控股优化股东结构，为价值重估创造机会