Jia Tongchun(North New Building Materials) Sells 3.5 Million Shares, Cashing Out Over 100 Million

North New Building Materials announced on January 9, 2025, that company shareholder and Vice Chairman Jia Tongchun and his concerted parties have completed their share reduction plan, totaling 3.5 million shares. Mr. Jia personally reduced 3.3433 million shares, cashing out approximately 105.53 million RMB.

The announcement noted that the share reduction price range for Mr. Jia was between 29.95 RMB and 33.25 RMB per share; the price range for Shenxinli No. 22 was between 30.71 RMB and 31.11 RMB; and for Shenxinli No. 24, it was between 30.71 RMB and 30.92 RMB. The shares reduced by Mr. Jia originated from the 2016 North New Building Materials issuance of shares to purchase assets and related transactions (referred to as "2016 Reorganization"). The shares reduced by Shenxinli No. 22 and Shenxinli No. 24 were acquired through block transactions from Mr. Jia’s holdings from the 2016 reorganization.

Previously, North New Building Materials announced on October 8, 2024, that major shareholder and Vice Chairman Jia Tongchun and his concerted parties, Guangfa Asset Management Shenxinli No. 22 and Guangfa Asset Management Shenxinli No. 24, collectively held 86.073 million shares, accounting for 5.09% of the total share capital. They planned to reduce no more than 3.5 million shares, accounting for 0.21% of the total share capital, within three months after the disclosure of the reduction plan.

According to media reports, Mr. Jia has now cashed out over 1 billion RMB from his share reductions in North New Building Materials. In mid-November 2019, Mr. Jia announced a reduction plan immediately after lifting the share restriction. On November 7, 2019, North New Building Materials announced that Jia Tongchun and his concerted parties planned to reduce no more than 63.4984 million shares, accounting for 3.76% of the company's total share capital, within six months after the 15 trading days.

On December 22, 2021, North New Building Materials announced that major shareholder Jia Tongchun, due to family asset planning needs, planned to transfer no more than 4 million shares to Shenxinli No. 24 via block trades and intended to sign a "Concerted Action Agreement" with Shenxinli No. 24.

On February 20, 2023, North New Building Materials announced that major shareholder and Vice Chairman Jia Tongchun originally planned to transfer no more than 6 million shares via block trades between August 23, 2022, and February 22, 2023, but ultimately did not implement this transfer plan.