Zhejiang Guangsha: Guarantee settlement progress, stock pledge released

Zhejiang Dongwang Times Technology Co., Ltd. (SSE:600052) announced progress in its guarantee settlement with Dongyang Jintou Holding Group concerning debts of Guangsha Holding Group. As part of the settlement, Zhejiang Dongwang Times made payments totaling 2.92 billion RMB, recovering 2.16 billion RMB in 2022. Consequently, 78,255,600 shares of Zheshang Bank, previously pledged as collateral, were released on February 13, 2025, according to a notice received on February 14, 2025. The company is still waiting for confirmation of the release of the remaining guarantee liability of 0.56 billion RMB.