Polaris Bay: shareholder equity frozen, capital changes finalized

Huachuang Yunxin Digital Technology Co., Ltd. (Polaris Bay Group) disclosed that Shanghai Shanrong Industrial Co., Ltd.'s 118,636,428 shares in the company have been rotationally frozen, representing 100% of Shanrong's holdings and 5.36% of Polaris Bay Group's total share capital. The freeze, initiated by the Ningbo Intermediate People's Court of Zhejiang Province, is effective from August 25, 2025. This rotational freeze follows earlier judicial freezes, bringing Shanrong Industrial’s total judicially frozen shares to 133,682,712, representing 73.43% of its total holdings and 6.04% of Polaris Bay Group's total share capital.

The company further announced the completion of its registered capital change and the filing of its amended Articles of Association. Following board and shareholder approval in June 2025, the company canceled 10,887,400 repurchased shares, reducing its registered capital.

The registered capital has been adjusted from CNY 2,224,429,877 to CNY 2,213,542,477. Polaris Bay Group has secured a new business license from the Xicheng District Market Supervision Administration in Beijing, reflecting the updated capital structure. The company notes that it currently operates without a controlling shareholder or de facto controller, and the share freeze is not expected to impact its normal operations.