Summary by Moomoo AI
Zhejiang Zhuhang Yong Expressway Co., Ltd. ("Zhejiang Zhuhang Yong") announced through its subsidiary Zheshang that on November 11, 2024, its controlling shareholder Zhejiang Sansan Expressway Co., Ltd. ("Sansan Expressway") has had its shareholding diluted passively by more than 5% due to the conversion of convertible bonds into shares. Zheshang publicly issued a total of 7 billion RMB convertible corporate bonds on June 14, 2022, and listed them on the Shanghai Stock Exchange on July 8 of the same year. As of November 8, 2024, the cumulative conversion has resulted in more than 0.4 billion shares, causing Sansan Expressway's shareholding to decrease from 54.7894% to 49.5787%. This change will not affect the change in the company's controlling shareholder and actual controller, nor will it affect the company's ownership structure and distribution. Zheshang will fulfill its disclosure obligations promptly in accordance with relevant regulations.
