Topchoice Medical's controlling shareholder adjusts stock pledges

Hangzhou Baoguo Industrial Group Co., Ltd., the controlling shareholder of Topchoice Medical, holds 151,589,199 shares, representing 33.89% of the company's total share capital. On September 16, 2025, Baoguo Industrial pledged 2,250,000 shares, equivalent to 1.48% of its holdings and 0.50% of Topchoice Medical's total share capital, with China Minsheng Banking Corp., Ltd., Hangzhou Branch, to secure funds for external medical projects. Simultaneously, 2,871,219 shares were released from pledge, representing 1.89% of Baoguo Industrial's holdings and 0.64% of the company's total share capital.

Following these transactions, Baoguo Industrial's total pledged shares amount to 98,476,672 shares, which is 64.96% of its total holdings and 22.02% of Topchoice Medical's total share capital. Its concert party, Mr. Lu Jianming, holds 2,091,088 shares (0.47% of total share capital) with no shares pledged. Collectively, Baoguo Industrial and its concert party have 64.08% of their shares pledged, totaling 22.02% of the company's share capital.

Baoguo Industrial maintains a strong credit profile and repayment capacity, ensuring that the pledge risk remains manageable. The company stated that these actions will not impact Topchoice Medical's core operations, continuous operational capabilities, or lead to a change in actual control. The controlling shareholder has plans to address any potential future risks through additional pledges or early repurchases.