Shanshan affiliate sees partial share freeze lifted by court

Ningbo Shanshan Co., Ltd. announced on September 3, 2025, that 19,936,330 shares held by its controlling shareholder Shanshan Group Co., Ltd.'s concerted party, Ningbo Pengze Trading Co., Ltd., have been released from a rotation freeze. This decision by the Ningbo Intermediate People's Court follows the withdrawal of related cases. These shares represent 9.71% of Pengze Trading's total holdings and 0.89% of Shanshan Co.'s total share capital.

Previously, on February 19, 2025, Shanshan Co. had disclosed the rotation freeze on these shares. Following this latest release, Pengze Trading's remaining cumulative rotationally frozen shares amount to 53,544,756, accounting for 26.09% of its total holdings and 2.38% of the company's total share capital.

As of September 3, 2025, Shanshan Group and Pengze Trading collectively hold 525,561,456 shares in Shanshan Co., representing 23.36% of the company's total share capital. The total number of shares subject to judicial freeze and marking for both entities remains at 525,561,392 shares, with cumulative rotationally frozen shares now at 1,286,442,142 shares. Shanshan Co. will continue to monitor the situation and fulfill its information disclosure obligations.