1. If a major shareholder or director reduces his shares through centralized bidding, he shall report the reduction plan to the Exchange for the record 15 trading days before the first sale of shares;

2. If the shareholders who hold the non-public offering shares of a listed company reduce their holdings by bidding, the number of reductions shall not exceed 50% of the number of non-public offering shares held by them within 12 months from the date when the restrictions on the sale of shares are lifted;

3. If a major shareholder reduces his holdings through block trading, the total number of shares reduced in any 90 consecutive days shall not exceed 2% of the total number of shares of the company;

5. The transferee shall not transfer the transferred shares within 6 months after the transferee.

Second, analysis

The top ten tradable shareholders refer to the top ten shareholders in the current period and their shareholdings, and the top ten tradable shareholders refer to the top ten tradable shareholders in the previous reporting period and their shareholdings. The top ten tradable shareholders may be the same as the top ten tradable shareholders in this period, or the top ten tradable shareholders in the previous period may be squeezed out of the top ten in this period. Investors can analyze individual stocks according to the changes of the top ten tradable shareholders.

3. What is the difference between the top ten tradable shareholders and the top ten shareholders?

The difference between the top ten shareholders and the top ten tradable shareholders lies in whether the listed company has lifted the ban on tradable shares. The top ten shareholders refer to the top ten shareholders who hold the most shares in the total share capital, and the top ten tradable shareholders refer to the top ten shareholders who hold the most shares in the tradable shares. If the listed company has lifted the ban on tradable shares, then the top ten tradable shareholders are not the biggest in terms of shareholding, influence and right to speak, but they have the greatest right to speak in listed companies and have greater influence on listed companies when changes occur. But if the listed company does not lift the ban on tradable shares, then the top ten tradable shareholders are the same as the top ten shareholders.