Shareholder extends pledge of Anhui Kouzi Distillery shares

Anhui Kouzi Distillery Company Limited announced that its shareholder, Mr. Liu Ansheng, has extended the pledge of 6,090,000 shares. This transaction, initially made on September 4, 2023, was for a stock repurchase agreement with Guotai Haitong Securities Co., Ltd. The initial repurchase date of September 3, 2024, has now been extended to September 3, 2026.

Following this extension, Mr. Liu Ansheng's total pledged shares amount to 21,753,900, representing 40.68% of his total holdings of 53,473,529 shares. This block of shares constitutes 8.94% of the company’s total share capital. The total pledged shares by Mr. Liu Ansheng and his concerted parties now stand at 31,361,600, representing 12.96% of their collective holdings and 5.24% of the company's total share capital.

The company stated that the pledge extension is due to personal reasons. Mr. Liu Ansheng reportedly has good credit and repayment capacity, ensuring that the pledge risk is manageable. The extension is not expected to lead to a forced liquidation or affect the control rights of the company’s actual controllers and their concerted parties, nor will it impact the company's production, operations, or governance.