Hoshine Silicon Industry's controlling shareholder adjusts share pledges

Luo Yeman, a concert party of Hoshine Silicon Industry's controlling shareholder Ningbo Hoshine Group Co., Ltd., holds 179,406,101 shares, representing 15.18% of the company's total share capital. Following recent pledge and release activities, Luo Yeman's cumulative pledged shares amount to 88,843,500 shares, equating to 49.52% of their holdings and 7.52% of the company's total share capital. The pledged shares are used to repay debts.

Luo Yeman pledged 10,000,000 shares, representing 5.57% of their holdings, and 26,000,000 shares, representing 14.49% of their holdings. The pledges were made to China Galaxy Securities Co., Ltd. and will last until the completion of registration procedures for release of pledge.

Collectively, Ningbo Hoshine Group Co., Ltd. and its concert parties (Luo Liguo, Luo Yan, and Luo Yeman) hold 869,105,229 shares, or 73.52% of the total share capital. The cumulative number of pledged shares for this group is 433,253,200 shares, accounting for 49.85% of their total holdings and 36.65% of the company's total share capital. The company states that the group's financial condition is robust, and pledge risks are controllable, with measures in place to mitigate potential issues.