Songyang Recycle Resources: Major shareholders adjust share pledges

Guangdong Songyang Recycle Resources Co., Ltd. announced that its controlling shareholder, Wang Zhuangpeng, released a pledge on 3,500,000 shares, representing 8.19% of his total holdings and 1.71% of the company's total share capital. Simultaneously, Wang Zhuangpeng re-pledged these 3,500,000 shares to Guangdong Chenghai Rural Commercial Bank, with the pledge commencing on December 3, 2025, and expiring on December 2, 2026. This re-pledge is for supplementary working capital.

Additionally, Wang Zhuangjia, a party acting in concert with Wang Zhuangpeng, released the pledge on all 6,000,000 of his shares, representing 100% of his holdings and 2.93% of the company's total share capital. These shares were also re-pledged to Guangdong Chenghai Rural Commercial Bank under the same terms as Wang Zhuangpeng's re-pledge, for supplementary working capital.

Following these transactions, Wang Zhuangpeng and parties acting in concert collectively control 61,521,500 shares, representing 30.06% of the company's total share capital. A total of 48,860,000 shares held by Wang Zhuangpeng and parties acting in concert are now pledged, accounting for 79.42% of their total holdings and 23.87% of the company's total share capital. The company clarified that this pledge will not alter the company's control, affect its operations, or involve any performance compensation obligations.