Beijing Compass's largest shareholder pledges shares for operations support

Beijing Compass Technology Development (SZSE:300803) announced that its controlling shareholder, Guangzhou Zhanxin Communication Technology, has pledged 5,600,000 shares, representing 3.38% of its holdings and 1.36% of the total share capital, to secure financing. This move aims to support the listed company's production and operational activities. As of the announcement, Guangzhou Zhanxin's total pledged shares amount to 15,850,000, accounting for 9.57% of its holdings and 3.84% of the total share capital. This pledge is for a term running from February 21, 2025, to February 21, 2026, with China Securities Co., Ltd. as the pledgee. Beijing Compass's board has scheduled a shareholder meeting to discuss shareholder returns, a long-term plan, and related party transactions.