Hoshine Silicon's controlling shareholder pledges more shares

Hoshine Silicon Industry announced its controlling shareholder, Ningbo Hoshine Group Co., Ltd. (Hoshine Group), has pledged an additional 500,000 shares. Following this, Hoshine Group's cumulative pledged shares total 241,409,100, representing 49.61% of its direct holdings and 20.42% of the company's total share capital. The pledge was made to China CITIC Bank Urumqi Branch to supplement working capital.

As of the announcement date, Hoshine Group and its concerted parties collectively hold 869,105,229 shares, or 73.52% of Hoshine Silicon Industry's total share capital. The aggregate number of pledged shares for this group now stands at 432,253,200, representing 49.74% of their combined holdings and 36.56% of the company's total share capital.

The company stated that Hoshine Group and its concerted parties maintain good credit and financial standing, with future repayment sources including operating income, investment income, and company share dividends. The pledge risk is considered controllable, with measures such as additional collateral or early repayment available to address potential risks.