Keda Manufacturing's largest shareholder pledges shares, approves employee stock plan

Keda Manufacturing Co., Ltd. (SSE:600499) announced that its largest shareholder, Liang Tongcan, pledged 18 million shares, representing 4.81% of his holdings and 0.94% of the company's total share capital. Following this pledge, Liang Tongcan's cumulative pledged shares amount to 256,511,000, or 68.50% of his holdings and 13.37% of the company’s total equity. Liang Tongcan and his concert party, Guangdong Hongyu Group, have collectively pledged 320,852,152 shares, accounting for 73.12% of their total holdings and 16.73% of Keda Manufacturing’s total share capital. The pledge is for Guangdong Hongyu Group's operational funding needs.