Shanghai Ruichen Environmental Protection: Former shareholder holding more than 5%, Ju Chen Fan Rong reduces holdings by 2.15M shares, decreasing the shareholding ratio to 4.38%

On April 3, 2026, Shanghai Ruichen Environmental Protection Technology Co., Ltd. (hereinafter referred to as “Shanghai Ruichen Environmental”) announced that the share reduction plan of its shareholder Ningbo Jucheng Fanrong Investment Management Partnership (Limited Partnership) (hereinafter referred to as “Jucheng Fanrong”), which held more than 5% of the shares, has been completed. After this reduction, Jucheng Fanrong’s shareholding ratio decreased from 7.38% to 4.38%, and it is no longer a shareholder holding more than 5% of the company.

Background of the Reduction Plan

The announcement shows that Shanghai Ruichen Environmental disclosed the “Pre-disclosure Announcement on Share Reduction by Shareholders Holding Over 5%” on December 19, 2025. At that time, Jucheng Fanrong held 5.2875 million shares, accounting for 7.38% of the total share capital. The plan was to reduce no more than 2.15M shares, representing no more than 3% of the total share capital, within three months after the disclosure date through centralized bidding or block trading, within fifteen trading days from the disclosure date.

Implementation of the Reduction

According to the announcement, Jucheng Fanrong completed the reduction through two methods, with details as follows:

The data above shows that Jucheng Fanrong reduced a total of 2.15M shares, accounting for 2.9982% of the company’s total share capital, slightly below the planned 2.15M shares. The reduction plan is essentially complete. The average price for centralized bidding was 30.13 yuan/share, and for block trading was 24.60 yuan/share.

Shareholding Changes Before and After the Reduction

Before this reduction, Jucheng Fanrong held 5.2875 million shares of Shanghai Ruichen Environmental, all of which were unrestricted shares, accounting for 7.38% of the total share capital. After the reduction, its holdings decreased to 3.1395 million shares, still all unrestricted shares, with the proportion of total share capital decreasing to 4.38%. The specific changes are as follows:

Additional Notes

The announcement states that Jucheng Fanrong is not the controlling shareholder or actual controller of Shanghai Ruichen Environmental. This equity change will not have a significant impact on the company’s governance structure, equity structure, or future operations, nor will it lead to a change in control of the company.

As of the disclosure date, Jucheng Fanrong’s reduction plan has been completed, and its shareholding ratio has officially fallen below 5%, no longer qualifying as a shareholder holding more than 5% of the company.

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