Xining Special Steel controlling shareholder pledges more shares

Tianjin Jianlong Iron & Steel Industrial Co., Ltd. (Tianjin Jianlong), the controlling shareholder of Xining Special Steel, has pledged 50,239,703 shares. This pledge serves as collateral for a RMB300,000,000 comprehensive credit line from Bohai Bank, Tianjin Branch, supporting Xining Special Steel's production and operations. As of the announcement date, Tianjin Jianlong holds 975,144,766 shares, representing 29.96% of the company's total share capital.

Following this latest transaction, Tianjin Jianlong's cumulative pledged shares now total 674,274,835, which accounts for 69.15% of its total holdings and 20.71% of Xining Special Steel's total share capital. The pledge will remain until the pledgee applies for its release. The company assures that this pledge does not impact Xining Special Steel's core business, financing, or sustained operational capacity.

Tianjin Jianlong maintains a strong credit standing, indicating that pledge-related risks are manageable. Should the risk of a margin call arise, Tianjin Jianlong intends to take proactive measures such as providing additional collateral or early repayment.