Jingyuntong's controlling shareholder pledges 27.86% of holdings

Beijing Jingyuntong Technology (SSE:601908) announced that its controlling shareholder, Beijing Jingyuntong Daxing Technology Investment Co., Ltd., has pledged 195,000,000 shares, representing 27.86% of its total holdings in the company. Jingyuntong Daxing directly holds 700,000,000 shares, or 28.99% of Jingyuntong's total share capital. The pledges were made to Hangzhou Bank, China Development Bank, and Bank of Communications. The funds raised through the pledges will support Beijing Jingyuntong Technology’s production and operations.