Fangda Special Steel's controlling shareholder adjusts share pledges

Fangda Steel Group, the controlling shareholder of Fangda Special Steel Technology, recently released 140 million shares from pledge. This represented 18.59% of its holdings and 6.05% of Fangda Special Steel's total share capital. Following this, Fangda Steel Group re-pledged 90 million shares, accounting for 11.95% of its holdings and 3.89% of the total share capital, for its own capital needs.

After these transactions, Fangda Steel Group's cumulative pledged shares total 527,848,335, representing 70.08% of its holdings and 22.82% of Fangda Special Steel's total share capital. Including wholly-owned subsidiary Jiangxi Automobile Leaf Spring Co., Ltd., the total pledged shares for the controlling shareholder and its concerted parties amount to 613,065,235 shares, or 65.99% of their combined holdings and 26.50% of the company's total share capital.

The controlling shareholder and its concerted parties confirm no other pledges beyond those stated, with no immediate flat position risk or forced transfer risk. Fangda Steel Group and Jiangxi Automobile Leaf Spring Co., Ltd. maintain good credit and sufficient repayment capacity, indicating a controllable pledge risk. These transactions are not expected to impact Fangda Special Steel's core operations, financing, or corporate governance.