莱克电气可转债持有人大幅减持，持股结构显著变化
一、公告核心内容概览
- 可转债发行与基本情况：
- 莱克电气股份有限公司（证券代码：603355，简称“莱克电气”）于2022年10月14日公开发行可转换公司债券（简称“莱克转债”，代码“113659”），发行总量1,200万张，每张面值100元，募集资金总额12亿元，期限6年。
- 2022年11月15日，莱克转债在上海证券交易所挂牌交易。
- 公司控股股东莱克电气投资集团有限公司（简称“莱克投资”）、实际控制人倪祖根及其一致行动人苏州立达投资有限公司（简称“立达投资”）合计优先配售认购了6,398,150张，占发行总量53.32%。
- 历次减持及持有比例变化：
- 2023年9月4日-2025年3月10日： 莱克投资及倪祖根合计减持1,210,600张，占发行总量的10.09%，持有比例降至43.23%。
- 2025年3月12日-2025年11月18日： 倪祖根及莱克投资、立达投资合计再减持1,225,450张，占发行总量的10.21%，立达投资退出，剩余持有比例降至33.02%。
- 2025年11月19日-2025年12月8日： 倪祖根及莱克投资再次减持1,324,340张，占发行总量的11.04%，倪祖根退出，莱克投资持有21.98%。
- 2025年12月9日-2026年4月17日： 莱克投资再度减持1,206,620张，占发行总量的10.06%，持有比例降至11.93%。
- 2026年4月20日-2026年5月12日（本次变动）： 莱克投资通过集中竞价交易方式减持1,204,280张，占发行总量的10.04%，减持后仅持有226,860张，占总量1.89%。
二、对投资者和股东的重要影响
- 控股股东及实际控制人大幅减持：
- 控股股东及其一致行动人在发行初期持有超过半数的可转债，但在不到四年时间内持续大幅减持，目前持有比例已降至不足2%。
- 此次减持后，莱克投资仅持有1.89%的可转债，实际控制人倪祖根、立达投资已不再持有可转债。
- 市场影响及潜在风险：
- 控股股东/实际控制人如此大幅度、持续性减持可转债，可能引发市场对于公司管理层信心及未来发展的担忧，对公司股价和债券价格都会产生压力。
- 持有人结构的变化，意味着公司未来可转债的转换、赎回等事项中，控股股东影响力大幅减弱。
- 上述减持均通过集中竞价方式完成，显示为主动减持行为，具有较强的信息披露和市场指引作用。
- 投资者需密切关注后续影响：
- 后续可转债市场流通份额提高，机构或个人投资者可能成为新主导力量。
- 公司控股股东的态度和举措、市场情绪变化等均可能成为短期股价波动的催化剂。
三、信息披露合规性说明
- 公司已按上市规则及时履行信息披露义务，并在上海证券交易所官网发布相关公告，确保投资者知情权。
- 本次公告为2026年5月13日董事会正式发布。
四、投资者建议
- 建议投资者关注公司控股股东及管理层的最新动向和公司基本面变化。
- 对于可转债持有人，需评估控股股东大幅减持可能带来的流动性及市场波动风险。
- 如有参与可转债或公司股票的投资者，应结合自身风险偏好与公司后续公告作出决策。
免责声明：本报道内容基于公司公告梳理，仅供投资者参考，不构成任何投资建议。投资有风险，入市需谨慎。
English Version
LEIKE Electric’s Major Convertible Bond Holders Significantly Reduce Holdings – Major Structural Change
1. Key Points of the Announcement
- Convertible Bond Issuance and Basic Situation:
- LEIKE Electric Co., Ltd. (Stock code: 603355; Bond abbreviation: LEIKE Convertible, code: 113659) publicly issued 12 million convertible bonds on October 14, 2022, each with a face value of 100 RMB, raising a total of 1.2 billion RMB, with a term of 6 years.
- The bonds were listed on the Shanghai Stock Exchange on November 15, 2022.
- The controlling shareholder LEIKE Investment Group, actual controller Mr. Ni Zugen, and concerted party Lida Investment together subscribed for 6,398,150 bonds (53.32% of the issuance) via priority allocation.
- Reduction Timeline and Changes in Holding Ratio:
- Sep 4, 2023 – Mar 10, 2025: LEIKE Investment and Ni Zugen together reduced by 1,210,600 bonds (10.09%); holding ratio fell to 43.23%.
- Mar 12 – Nov 18, 2025: Ni Zugen, LEIKE Investment and Lida Investment reduced another 1,225,450 bonds (10.21%); Lida exited, remaining holding ratio down to 33.02%.
- Nov 19 – Dec 8, 2025: Ni Zugen and LEIKE Investment reduced another 1,324,340 bonds (11.04%); Ni Zugen exited, LEIKE Investment held 21.98%.
- Dec 9, 2025 – Apr 17, 2026: LEIKE Investment reduced by 1,206,620 bonds (10.06%), holding ratio down to 11.93%.
- Apr 20 – May 12, 2026 (Latest Change): LEIKE Investment reduced by 1,204,280 bonds (10.04%), now only holding 226,860 bonds (1.89%).
2. Important Investor and Shareholder Insights
- Significant Reduction by Controlling Shareholder and Actual Controller:
- Controlling parties initially held over half the convertible bonds, but have reduced their stake to less than 2% in under four years through continuous large-scale reductions.
- After this round, only LEIKE Investment remains with 1.89%; Ni Zugen and Lida Investment have completely exited.
- Potential Market Impact and Risks:
- Such substantial and persistent reductions may raise concerns over management’s confidence and future company prospects, potentially putting pressure on both the share and bond price.
- Change in bondholder structure means controlling shareholder’s influence on future convertibles (conversion, redemption, etc.) significantly weakens.
- All reductions were carried out via centralized bidding, indicating deliberate and transparent action with strong market guidance.
- Investors Should Monitor Subsequent Effects:
- Free float of the convertible bonds increases, possibly making institutions or individual investors the new dominant holders.
- Short-term price volatility may be triggered by the controlling shareholder’s actions and market sentiment shifts.
3. Information Disclosure Compliance
- The company has fulfilled disclosure obligations in accordance with listing rules and published all relevant announcements on the Shanghai Stock Exchange website.
- This announcement was officially made by the Board on May 13, 2026.
4. Investor Suggestions
- Investors are advised to closely watch further moves by controlling shareholders and company fundamentals.
- Convertible bond holders should assess liquidity and volatility risks arising from the major reduction.
- Bond or equity investors should make decisions based on their risk preference and subsequent company disclosures.
Disclaimer: This report is based on company announcements and is for reference only. It does not constitute any investment advice. Investment involves risks; please make decisions prudently.
