In the stock market, the reduction of major shareholders is one of the hot issues that many investors pay attention to. In most cases, the reduction of major shareholders will also have a certain impact on the stock. Then, what rules should major shareholders follow when reducing their holdings? As shown in the following.

what are the rules for major shareholders to reduce their holdings?

1 Time and proportion of shareholding reduction:

2 Pre-disclosure requirements for shareholding reduction by major shareholders, including:

circumstances in which shareholding reduction is prohibited

1 Under any of the following circumstances, major shareholders of listed companies may not reduce their shares:

1. Listed companies or major shareholders are suspected of committing securities and futures crimes, while being investigated by China Securities Regulatory Commission or by judicial organs, and during the period of being investigated by administrative organs.

2. The major shareholder has been publicly condemned by the stock exchange for violating the rules of the stock exchange for less than 3 months;

3. Other circumstances stipulated by China Securities Regulatory Commission.

2 In case of any of the following circumstances, if a listed company touches the warning standard of delisting risk, its controlling shareholder (only applicable to the controlling shareholder among the major shareholders) shall not reduce its holdings of the company from the date when the relevant decision is made until the company's shares are terminated or resumed:

1. The listed company is subject to administrative punishment by the China Securities Regulatory Commission for fraudulent issuance or illegal disclosure of major information;

2. The listed company is transferred to the public security organ according to law for the crime of fraudulent issuance or the crime of illegal disclosure or non-disclosure of important information;

3. Other major illegal delisting situations. If a listed company has no controlling shareholder or actual controller, its largest shareholder and the actual controller of the largest shareholder shall abide by the provisions of the preceding paragraph.

3 the shares issued before the company's public offering are held by the major shareholders, and shall not be transferred within one year from the date of listing and trading of the company's shares. If it is the controlling shareholder or actual controller, it should also promise at the time of initial public offering:

Within 36 months from the date of listing, it will not transfer or entrust others to manage the shares it directly or indirectly holds that have been issued by the issuer before the initial public offering, nor will it be repurchased by the issuer (there are cases of promised exemption).