Xingmin Intelligent shareholder Qingdao Fengqi pledges 5m shares

Xingmin Intelligent Transportation Systems Group (SZSE:002355) announced that shareholder Qingdao Fengqi Environmental Protection and New Energy Technology has pledged 5 million of its shares. The pledge, representing 12.5% of Qingdao Fengqi's holdings and 0.81% of Xingmin Intelligent's total share capital, was made to Shenzhen Guangyunda Trade Co., Ltd. The pledge period commenced on February 13, 2025, and has an end date of January 1, 9999. As of the announcement date, Qingdao Fengqi holds 40 million Xingmin Intelligent shares, representing 6.45% of the total share capital. 40 million shares, or 100% of their holding, have been pledged. It was noted that 13 million of Qingdao Fengqi's shares are subject to a judicial re-freezing after the pledge. The company stated that the share pledge does not pose a risk of forced liquidation and will not adversely affect the company's production, operation, or governance.