Xiangcai shares: controlling shareholder's allied entity reduces pledged holdings

Quzhou Xin'an Development, an entity acting in concert with the controlling shareholder of Xiangcai Co., Ltd., has announced the release of pledged shares. A total of 123,000,000 shares, representing 26.48% of Quzhou Xin'an Development's holdings and 4.30% of Xiangcai Co., Ltd.'s total share capital, have been de-pledged as of December 19, 2025.

Following this release, Quzhou Xin'an Development's cumulative pledged shares now stand at 302,150,000 shares, accounting for 65.06% of its holdings and 10.57% of Xiangcai Co., Ltd.'s total share capital. Quzhou Xin'an Development, together with its acting-in-concert parties, holds 1,154,282,767 shares, which is 40.37% of the company's total share capital.

The cumulative pledged shares for Quzhou Xin'an Development and its acting-in-concert parties now amount to 991,941,893 shares, representing 85.94% of their total holdings and 34.69% of Xiangcai Co., Ltd.'s total share capital. The company stated that any future pledging of these shares will be disclosed in accordance with relevant laws and regulations.