<p>香港，2026 年 3 月 30 日 -（ACN Newswire）- 在過去兩年中，首程控股（0697.HK）在資本市場上持續面臨重大估值壓力，即早期股東通過大宗交易逐步退出所造成的供給側壓力。</p>
<p>在他的董事長聲明中，董事長趙天陽表示，這一歷史性問題現在已進入明顯緩解階段。回顧公司的股東結構，首程控股在創業和轉型階段引入了多輪戰略投資者。天使輪投資者包括周大福企業和 ORIX；A 輪投資者包括厚朴、京東和北京國有資本運營管理中心；而 B 輪投資者則包括陽光保險等機構。這些股東支持公司的發展時間從三到五年到長達七到八年不等，他們的逐步退出本質上是公司成長過程中資本輪換的正常過程。</p>
<p>更重要的是，趙天陽在聲明中指出，退出股東出售的大部分股份被來自中國和海外的頂級國際投資者和專業機構投資者主動接手。這意味着之前困擾市場的拋售壓力在很大程度上已被吸收。這也表明，股權正在從早期和純粹的金融投資者轉向對公司長期價值主張有更強信心的專業機構，導致股東結構和股東質量的同時改善。對於市場而言，這不僅是供給側壓力的拐點，也是估值邏輯轉變的基礎。</p>
<p>董事長趙天陽還表示，公司決心確保不同階段的投資者都能分享公司成長的紅利，進一步增強市場對公司長期價值實現的預期。</p>
<p>來源：首程控股</p>
<p>版權 2026 ACN Newswire。保留所有權利。</p>

首程控股

<p>首程控股已解決因早期股東退出而導致的重大估值壓力。董事長趙天陽宣佈，這一問題正在緩解，退出股東所售出的股份已被頂級國際和機構投資者吸納。這一變化表明，從早期投資者向專業機構的轉變，提高了股東的質量和結構。公司旨在確保所有投資者都能從其增長中受益，增強對其長期價值實現的預期</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）- 在過去兩年中，首程控股（0697.HK）在資本市場上持續面臨重大估值壓力，即早期股東通過大宗交易逐步退出所造成的供給側壓力。</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>在他的董事長聲明中，董事長趙天陽表示，這一歷史性問題現在已進入明顯緩解階段。回顧公司的股東結構，首程控股在創業和轉型階段引入了多輪戰略投資者。天使輪投資者包括周大福企業和 ORIX；A 輪投資者包括厚朴、京東和北京國有資本運營管理中心；而 B 輪投資者則包括陽光保險等機構。這些股東支持公司的發展時間從三到五年到長達七到八年不等，他們的逐步退出本質上是公司成長過程中資本輪換的正常過程。</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，趙天陽在聲明中指出，退出股東出售的大部分股份被來自中國和海外的頂級國際投資者和專業機構投資者主動接手。這意味着之前困擾市場的拋售壓力在很大程度上已被吸收。這也表明，股權正在從早期和純粹的金融投資者轉向對公司長期價值主張有更強信心的專業機構，導致股東結構和股東質量的同時改善。對於市場而言，這不僅是供給側壓力的拐點，也是估值邏輯轉變的基礎。</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>董事長趙天陽還表示，公司決心確保不同階段的投資者都能分享公司成長的紅利，進一步增強市場對公司長期價值實現的預期。</p>
</div><p>Source: Shoucheng Holdings</p>
<div class="lb-trans"><p>來源：首程控股</p>
</div><p>Copyright 2026 ACN Newswire . All rights reserved.</p>
<div class="lb-trans"><p>版權 2026 ACN Newswire。保留所有權利。</p>
</div>

從拋售壓力到大量機構持股：首程控股優化股東結構，為價值重估創造機會