CFLD's actual controller pledges shares for personal funds

China Fortune Land Development (CFLD) announced that its actual controller, Wang Xuexue, has pledged 18,590,600 shares, representing 0.48% of the company's total share capital. This pledge, effective December 11, 2025, is for personal funding and was made to Baoding Xuchen Commercial Co., Ltd.

Following this transaction, the cumulative pledged shares held by CFLD’s controlling shareholder, China Fortune Land Development Holdings, and its concerted parties, now total 484,370,105 shares. This represents 82.80% of their total holdings and 12.38% of CFLD's current total share capital. The announcement notes that 327,959,175 of these pledged shares are associated with matured financing, with an outstanding balance of 919 million yuan.

The company stated that this pledge by Wang Xuexue will not impact CFLD's operations, financing, or corporate governance. However, the controlling shareholder's debt-servicing capacity is reportedly affected by liquidity issues since late 2020, leading to a risk of forced liquidation. The company will continue to monitor share pledge changes and risks.