Greenland Holdings’ largest shareholder adjusts major share pledge

Shanghai Greenland Investment Enterprise (Greenland), the largest shareholder of Greenland Holdings with 25.88% of its total share capital, has announced a significant adjustment to its share pledges. On November 7, 2025, Greenland released 521,056,250 previously pledged shares and re-pledged the same amount to China Cinda Asset Management Co., Ltd. for a new term expiring November 7, 2030. This transaction represents 14.32% of Greenland's total holdings and 3.71% of Greenland Holdings' total share capital.

Following this adjustment, Greenland’s cumulative pledged shares now total 3,610,923,286 shares, representing 99.26% of its total holdings and 25.69% of Greenland Holdings' total share capital. Of these, 14.32% of Greenland's pledged shares are for its own financing needs, while 84.94% serve as collateral for Greenland Holdings' financing. The company states that the pledge will not impact its core business, financing, or operational continuity.

Greenland expects 1.04 bn pledged shares to mature within the next six months, representing 28.59% of its holdings and 7.40% of the company's total share capital, with a corresponding financing balance of CNY 3.022 bn. An additional 946.3m shares are set to mature within one year (excluding the first six months), representing 26.02% of its holdings and 6.73% of total share capital, with a financing balance of CNY 3 bn. Greenland Holdings intends to manage liquidity through its own funds or raised capital to repay these maturing obligations.