Kuncai Material shareholder pledges more shares

Fujian Kuncai Material Technology Co., Ltd. announced that Mr. Xie Liang, a concerted party of the controlling shareholder Mr. Xie Bienkun, has completed an additional pledge of 2,000,000 shares. This transaction brings his total pledged shares to 12,460,000, representing 50.48% of his holdings and 1.90% of the company's total share capital. The transaction was handled by China International Capital Corporation Wealth Securities Co., Ltd.

As of the disclosure date, Mr. Xie Bienkun and his concerted parties collectively hold 394,831,832 shares, accounting for 60.26% of the company's total share capital. Their cumulative pledged shares now total 77,853,500, representing 19.72% of their combined holdings and 11.88% of the company's total share capital.

The company affirmed that this supplementary pledge by Mr. Xie Liang will not affect the company's control or normal operations. The controlling shareholder and concerted parties maintain good credit and sufficient repayment capabilities to manage the pledge risk.