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China Fund News reporter Nan Shen

Golden Dragon Fish, a grain and oil giant with revenue exceeding 250 billion yuan last year, announced on the evening of August 1 that the company's controlling shareholder, which holds nearly 90% of the shares,Wilmar Hong Kong, intends to "voluntarily extend the lock-up period of the company's pre-IPO restricted shares held" for one year, that is, until October 16, 2025. This is the second time that Wilmar Hong Kong has voluntarily extended the share lock-up period.

Jinlongyu was listed on the Growth Enterprise Market in October 2020. After listing, its stock price quickly rose several times and once became the "market value leader" on the Growth Enterprise Market. However, since February 2021, its stock price has started to fall continuously. At present, the market value of Jinlongyu has fallen by more than 80% compared with its peak. In mid-July, Jinlongyu's stock price once broke the issue price.

Golden Arowana Holdings

Extending the lock-up period for shares

According to the announcement of Golden Arowana, the controlling shareholder of the company, Wilmar Distribution (Hong Kong) Limited (Chinese name: Wilmar Marketing (Hong Kong) Co., Ltd., hereinafter referred to as Wilmar Hong Kong) recently issued a "Commitment on Voluntary Extension of Share Lock-up and Reduction of Holdings". Wilmar Hong Kong, based on its confidence in the future development prospects of Golden Arowana and its high recognition of the company's value, voluntarily extended the lock-up period of the company's pre-IPO restricted shares held in order to further promote the company's sustainable and stable development and safeguard the interests of the majority of investors.

The announcement shows that Wilmar Hong Kong currently holds 4.879 billion shares of Golden Arowana, accounting for 89.99% of the company's total share capital. The original lock-up deadline was October 16, 2024, and the lock-up period was extended by 12 months. The release date after the extension is October 16, 2025.

This is not the first time that Wilmar Hong Kong has extended the lock-up period for its shares. On August 23, 2023, Golden Arowana disclosed the "Announcement on the Voluntary Extension of the Lock-up Period for Restricted Shares by the Controlling Shareholder". At that time, Wilmar Hong Kong voluntarily extended the lock-up period for restricted shares before the initial public offering, and the lock-up period was extended from October 16, 2023 to October 16, 2024.

Golden Dragon Fish was listed on the Growth Enterprise Market on October 15, 2020. It was hyped up in the early days of its listing, but the company's performance and stock price have continued to be under pressure since then. From 2021 to 2023, Golden Dragon Fish's net profit attributable to shareholders and net profit after deducting non-recurring items have declined for three consecutive years, and in the first quarter of 2024, it grew by a low single digit.

The share price of Golden Dragon Fish has also been adjusting for three and a half years. As of the close of August 1, the company's latest market value was 145.7 billion yuan, down 81.5% from its high point.

It is worth mentioning that the share price of Golden Dragon Fish fell to 25.38 yuan (after adjustment) on July 10, which has fallen below the issue price (25.7 yuan). According to the latest reduction measures issued by the China Securities Regulatory Commission in May this year, the controlling shareholder is not allowed to reduce its holdings if the share price falls below the issue price. As of June 28, the company had 140,500 shareholders.

14 companies' controlling shareholders have

Voluntary extension of the lock-up period for restricted shares

The reporter noticed that since July last year, there have been more and more shareholders like Jinlongyu who voluntarily extended the share lock-up period. Most of them came from controlling shareholders, and a few were important shareholders and directors, supervisors and senior managers who held more than 5% of the shares.

Since 2024 alone, 14 companies including Sansure Biotech, Foster, Oufu Egg, Liton Technology, Henghui Security, China Southern Power Grid Energy Storage, Yingli Holdings, Ailon Technology, Caida Securities, Suwen Electric, Yishi Precision, Zhengyuan Geo-Information, Gokewei and Golden Dragon Fish have issued announcements that their controlling shareholders have voluntarily extended the lock-up period for their shares.

In addition, some directors of Fudan Microelectric voluntarily extended the period of not reducing their holdings of the company's shares, while CITIC Securities, a major shareholder holding 6.28% of the shares - Guangzhou Yuexiu Capital and its subsidiaries voluntarily extended the share lock-up period.

Editor: Xiaomo

Review: Xu Wen

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