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Gree Electric Responds to Major Shareholder Zhuhai Mingjun's Share Reduction: It is Normal Financial Optimization
Gree Electric announced today that its largest shareholder, Zhuhai Mingjun Investment Partnership (Limited Partnership), plans to reduce its holdings by no more than 2% of the total share capital through block trading. The proceeds from the sale will be used to repay bank loans. According to Gree Electric, this reduction is part of Zhuhai Mingjun’s normal financial arrangements after fulfilling its share lock-up commitments. After this change in equity, Zhuhai Mingjun will still remain the sole largest shareholder of Gree Electric. Gree Electric stated that this reduction will not lead to a change in the company’s control and will not affect the company’s governance structure or operations. (Cailian Press)