Summary by Moomoo AI
Zhejiang Hangzhou-Ningbo Expressway Co., Ltd. (Zhejiang Hangzhou-Ningbo) announced on November 18, 2024, that its subsidiary Zheshang Securities indicated a passive dilution of the controlling shareholder's equity ratio due to the conversion of convertible bonds into shares. Zheshang Securities publicly issued 7 billion yuan of convertible enterprise bonds on June 14, 2022, and was listed for trading on the Shanghai exchange on July 8 of the same year. As of November 15, 2024, the controlling shareholder Zhejiang Shangsan Expressway Co., Ltd. (Shangsan Expressway) saw its shareholding ratio decrease from 54.7894% before issuance to 48.4911%, with a total passive dilution of over 5%. This change will not trigger a tender offer, nor will it alter the company's controlling shareholder and actual controller. Zheshang Securities will fulfill its information disclosure obligations in a timely manner according to relevant regulations.
