Will Semiconductor's top shareholder pledges more equity

Shanghai Will Semiconductor announced that its controlling shareholder, Yu Renrong, and related parties have pledged additional company shares. Yu Renrong, holding 27.42% of the company, has pledged 56.30% of his holdings. Separately, ShaoXing Wehao Equity Investment Fund, acting in concert with Yu Renrong and holding 6.10% of the company, has pledged 78.50% of its shares. In total, the pledged shares of Yu Renrong and his associates represent 60.19% of their collective holdings, amounting to 20.22% of Will Semiconductor's total share capital. The pledges were made for financing purposes, including loan repayments, with maturity dates extending into 2026. The company stated that the share pledges do not pose a risk to Will Semiconductor’s control structure or operations.