Shining3D Tech Co., Ltd. Revises IPO Price Stabilization Plan: Consecutive “Break of Issue Price” Will Trigger Share Buybacks by Actual Controllers and Others.

Image source: Shining 3D Announcement on the Company's Proposal (Revised) for Stabilizing Stock Prices Within Three Years After Applying for Public Issuance of Shares to Unspecified Qualified Investors and Listing on the Beijing Stock Exchange

DentalGoodNews｜On June 22, 2026, Shining3D Tech Co., Ltd. (830978, hereinafter referred to as "Shining3D") released an announcement titled "Proposal on the Plan to Stabilize Stock Prices within Three Years after the Company's Application for Public Issuance of Shares to Unspecified Qualified Investors and Listing on the Beijing Stock Exchange (Revised Version)." This proposal specifies that within three years after the company's listing on the Beijing Stock Exchange (hereinafter referred to as "BSE"), if consecutive "break of issue price" or "break of net asset value" or other situations triggering stock price stabilization measures occur, the company will sequentially adopt some or all of the following measures: shareholding increase by the actual controller and its concerted actors, shareholding increase by non-independent directors and senior management with obligations to increase holdings, and company stock buyback.

According to public information, Shining3D was founded in 2004, headquartered in Hangzhou, and primarily engaged in the research, production, and sales of 3D scanners. As previously reported by DENTALGOODNEWS (Leading Dental Industry Media, DGN), the company achieved revenue of RMB 1.575 billion in 2025, a year-on-year increase of 31.03%; net profit attributable to the parent company's shareholders was RMB 425 million, a year-on-year increase of approximately 100% compared to RMB 212 million in 2024.

In this revised proposal, Shining3D sets two specific conditions for triggering stock price stabilization measures: First, within six months after listing, the stock's closing price is lower than the issuance price for five consecutive trading days (i.e., "break of issue price"); second, from the seventh month to the 36th month after listing, the closing price is lower than the audited net asset value per share of the previous year for 20 consecutive trading days (i.e., "break of net asset value"), and this is not caused by force majeure, malicious speculation by third parties, or other factors.

If the triggering conditions are met, the stabilization measures will be implemented sequentially, adopting some or all actions. For the actual controller and its concerted actors, if the trigger occurs due to consecutive closing prices below the issuance price within six months after listing, the total funds used for shareholding increase shall be no less than RMB 1 million and no more than RMB 3 million; if the trigger occurs due to consecutive closing prices below the audited net asset value per share of the previous year from the seventh month to the 36th month after listing, the total funds used for a single shareholding increase shall be no less than RMB 1 million, and the total funds used for shareholding increase in any single period shall not exceed RMB 3 million.

If the shareholding increase plan by the actual controller and its concerted actors is completed but the stock price stabilization plan still needs to be initiated, non-independent directors and senior management who hold positions and receive compensation from the company will increase their holdings. The amount of such increase shall be no less than 10% and no more than 30% of the after-tax compensation they received from the company in the previous fiscal year.

Additionally, the proposal stipulates a company-level repurchase arrangement. After the actual controller and its concerted actors, as well as non-independent directors and senior management with obligations to increase holdings, complete their shareholding increases, if the company's stock price still falls below the audited net asset value per share at the end of the previous year, Shining3D will initiate a stock buyback. The funds used by the company for each repurchase period shall be no less than 10% of the audited net profit attributable to the parent company's shareholders in the previous fiscal year and no more than 30% of the audited net profit attributable to the parent company's shareholders in the most recent fiscal year, with the repurchase price not exceeding the audited net asset value per share at the end of the previous year.

The actual controller of Shining3D is Li Tao and its concerted actors. According to previous reports by DGN, the company's listing application was suspended on March 31, 2026, due to the expiration of financial reports, and resumed on April 20, 2026; subsequently, on June 11, 2026, it received the second round of review inquiries for its IPO on the BSE, focusing on issues such as the reasonableness of overseas growth and gross profit margin levels.

Currently, the process of Shining3D's public issuance of shares and listing on the BSE is still ongoing.