Songyang Recycle Resources concert party extends significant share pledge

Beihai Jinxingyang Investment Co., Ltd., a concert party of Guangdong Songyang Recycle Resources' controlling shareholder Wang Zhuangpeng, has extended the pledge of 5,000,000 shares. This represents 48.23% of its holdings and 2.44% of the company's total share capital. The extended pledge is valid until March 6, 2026, with Guangdong Xingxindianshupawnshop Co., Ltd. as the pledgee. The purpose of this pledge is to supplement working capital.

Following this extension, Beihai Jinxingyang Investment's cumulative pledged shares amount to 10,000,000, accounting for 96.47% of its total holdings. Collectively, Wang Zhuangpeng and his concert parties hold 61,521,500 shares, representing 30.06% of the company's total share capital. Of these, 48,860,000 shares, or 79.42%, are currently pledged.

The company's controlling shareholder and concert parties anticipate 25,000,000 pledged shares, representing 40.64% of their total holdings and 12.22% of the company's total share capital, to mature within the next six months. This corresponds to a financing balance of 125,200,000 yuan. The company states that the controlling shareholder has sufficient repayment capacity, drawing from operating income, dividends, investment income, and self-raised funds.