China301209.CS▼
United Chemical's controlling shareholder plans to transfer 7% stake by agreement at about 20% discount, cashing out roughly 525 million yuan
United Chemical's controlling shareholder, Longkou Sunshine Chemical Co., Ltd., plans to transfer 10.976 million shares by agreement, representing 7.00% of the company's total share capital, to the Jinqi Hang 2 Private Securities Investment Fund represented by Guangzhou Jinxin Private Fund Management Co., Ltd. The transfer price is 47.84 yuan per share, a discount of about 20% to the closing price of 59.80 yuan on the trading day before the signing date, with a total transaction value of approximately 525 million yuan. After the transfer is completed, Sunshine Chemical's shareholding will decrease from 67.1496 million shares to 56.1736 million shares, and its stake will fall from 42.83% to 35.83%. Jinqi Hang 2 will hold a 7.00% stake and become a shareholder with more than 5% of the company, while the company's actual controller remains unchanged and the transaction does not trigger a mandatory tender offer. Jinqi Hang 2 has committed not to reduce its newly acquired shares in any way for 12 months from the completion of share delivery. It is worth noting that the company disclosed a reduction pre-announcement on September 24, under which Sunshine Chemical and its concert party Yantai Baolian Investment Center Limited Partnership plan to reduce their combined holdings by no more than 4.704 million shares, or 3% of the company's total share capital, between October 26, 2026 and January 25, 2027. This 7% stake transfer by agreement still requires compliance confirmation from the Shenzhen Stock Exchange and transfer registration with the Shenzhen branch of China Securities Depository and Clearing Corporation, so whether it can ultimately be completed remains uncertain.
301209.CS · Capital · Negative Controlling shareholder Sunshine Chemical is selling 7% of the company at a ~20% discount, cashing out ~525 million yuan, signaling a major shareholder exit.
Longkou Yangguang Chemical Co Ltd · Capital · Negative Sunshine Chemical is the controlling shareholder transferring 7% of its stake at a ~20% discount and also plans further reductions of up to 3%.
Yantai Baolian Investment Center (LP) · Capital · Negative Yantai Baolian, a concert party of the controlling shareholder, is part of the disclosed plan to reduce combined holdings by up to 3%.