Jingyuntong's controlling shareholder pledges more shares amid unfavorable court ruling

Beijing Jingyuntong Technology announced on November 21, 2025, that its controlling shareholder, Beijing Jingyuntong Daxing Technology Investment Co., Ltd. (Jingyuntong Daxing), pledged 35,000,000 shares to China Everbright Bank Wuxi Branch. This pledge represents 5.00% of Jingyuntong Daxing's holdings and 1.45% of the company's total share capital, bringing Jingyuntong Daxing's total pledged shares to 139,520,000, or 19.93% of its total holdings. The shares were pledged to support the operations of the listed company or its subsidiaries.

Separately, on November 22, 2025, the company disclosed a significant development in its litigation with Wuhai Haibowan District Urban Construction Investment and Financing Co., Ltd. The Intermediate People's Court of Wuhai City, Inner Mongolia Autonomous Region, ruled against Beijing Jingyuntong Technology, ordering it to pay 210,000,000 yuan for construction project fees and 22,416,041.67 yuan in interest, with additional interest accruing until payment. The company plans to appeal this first-instance judgment.

The litigation’s impact on current or future profits remains uncertain, as the company will make accounting adjustments based on audit confirmation.