Quanyangquan shareholder Zhao Zhihua cuts stake to 5.49% via block trade

A 0.42% block trade is small in absolute terms, but the signal matters more than the size: a holder sitting just above the 5% disclosure threshold has now moved closer to it, and further sales would likely trigger additional disclosure obligations. Block trades also tend to be negotiated with a discount and absorbed by institutional buyers, so the composition of the register may be shifting rather than the stake simply shrinking. Whether Zhao continues reducing toward the threshold is the open question worth watching.