Zhejiang EV-Tech Co.,Ltd.A >5% shareholder (Yangtze NIO Industry Fund) plans to cut up to 2.894% of Fute Technology's shares for its own capital needs, a negative overhang on the stock.

Fute Technology announced that Yangtze NIO Industry Fund, a shareholder holding more than 5%, plans to reduce its stake by no more than 6.7757 million shares, representing 2.894% of the company's total share capital. The reduction period is from November 2, 2026 to February 1, 2027, through centralized bidding or block trading. The reason for the reduction is its own capital needs, and the shares come from pre-IPO holdings and capital reserve conversion to share capital.
Zhejiang EV-Tech Co.,Ltd.A >5% shareholder (Yangtze NIO Industry Fund) plans to cut up to 2.894% of Fute Technology's shares for its own capital needs, a negative overhang on the stock.
The fund is the entity reducing its stake for its own capital needs, but the article gives no read-through to its own value.