Jointown's largest shareholder releases, renews share pledges

Jointown Pharmaceutical Group (SSE:600998) announced today that its controlling shareholder, Chucheng Investment, and its aligned parties, including Zhongshan Guangyin and Shanghai Hongkang, have completed transactions involving the early release and new pledges of company shares. Specifically, 78,432,000 shares, 49,020,000 shares, and 9,000,000 shares were released early. Concurrently, new share pledges of 105,980,000 and 49,020,000 shares were executed by Chucheng Investment and Zhongshan Guangyin, respectively. Following these transactions, the cumulative pledged shares by these entities amount to 1,349,144,926, representing 57.92% of their holdings and 26.76% of Jointown's total share capital. The company asserts that these shareholders possess the financial capacity to meet their obligations, with funding sources including bond issuances and investment returns.