Tianma Technology's controlling shareholder adjusts share pledge

Fujian Tianma Science & Technology Group's controlling shareholder, actual controller, chairman, and general manager, Chen Qingta, has pledged an additional 8,000,000 shares. This brings his total pledged shares to 54,670,000, representing 56.74% of his holdings and 10.88% of the company's total share capital. These newly pledged shares serve as collateral for the 2023 employee stock ownership plan and do not involve new financing.

Concurrently, Fujian Tianma Investment Development Co. (Tianma Investment), a concerted party, released 13,450,000 pledged shares, eliminating all its pledged shares. Post-transaction, Chen Qingta and his concerted parties collectively hold 163,368,164 shares, with 56,298,272 shares, or 34.46% of their total holdings and 11.21% of the company's total share capital, currently pledged.

The company's controlling shareholder and concerted parties confirm their ability to repay financing, with funding sources including operating income, self-owned funds, stock dividends, investment income, and personal remuneration. They also affirm no non-operating fund occupation, illegal guarantees, or related party transactions infringing on company interests.