Shaanxi Sirui Advanced Materials' (SHA:688102) chairman, Wang Wenbin, committed that he will not reduce his shares in the company within 12 months, according to a Shanghai Stock Exchange filing on Saturday.
Wang currently owns around 293.7 million shares or 40.38% of the Chinese copper alloy manufacturer.
A company director, Sheng Qingyi, and his concerted party, Shenzhen Leren Technology Development, also pledged not to cut their stake in the company for the next 12 months.
Sheng owns 64.6 million shares or 8.9% of the company, while Leren Technology Development holds 42.1 million shares or 5.8% of the company.
The company's shares closed less than 2% higher.
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