China Kings Resources controlling shareholder pledges additional shares

China Kings Resources Group Co., Ltd. (SSE:603505) announced that its controlling shareholder, Zhejiang Jinshi Industry Co., Ltd., has pledged an additional 7,500,000 shares. This latest transaction brings the total number of shares pledged by Jinshi Industry to 65,900,000, representing 21.92% of its holdings in China Kings Resources, and 10.90% of the total share capital of the company. Jinshi Industry, along with its concerted parties, holds 54.37% of China Kings Resources' shares. The pledge, made to Zhongyuan Trust Co., Ltd., is for production and operational purposes and is valid from June 3, 2025, to February 8, 2027. Jinshi Industry stated that it has the financial capacity to repay the loan. The company further clarified that the share pledge will not result in a change of control and has no significant impact on its operations or corporate governance.