Hongfa Technology's controlling shareholder adjusts share pledges

Hongfa Technology Co. announced on September 24, 2025, that its controlling shareholder, Youge Innovation Investment Co., Ltd. ("Youge Investment"), has processed partial share pledge releases and extensions. Youge Investment directly holds 399,216,292 shares, representing 27.35% of the company's total share capital.

The announcement indicates that 2,508,000 pledged shares were unpledged, accounting for 0.63% of Youge Investment's total holdings and 0.17% of the company's total share capital, effective September 22, 2025. Concurrently, a total of 29,314,000 shares had their pledge terms extended until September 23, 2026. These extended pledges represent 7.34% of Youge Investment's holdings and 2.01% of the company's total share capital.

Following these transactions, Youge Investment's cumulative pledged shares now total 69,172,000 shares. This represents 17.33% of Youge Investment's total holdings and 4.74% of Hongfa Technology's total share capital. The company affirmed that Youge Investment's credit standing is good and that the transactions will not impact company operations or governance.