Jolywood shareholder pledges 12m shares for personal needs

Jolywood(Suzhou)Sunwatt (SZSE:300393) announced that a major shareholder, Lin Jianwei, has pledged 12 million shares of the company, constituting 6.73% of his holdings and 1.10% of Jolywood's total share capital. The pledge, effective from March 4, 2025, is secured with Xu Shunhang and intended for personal funding purposes. Following the pledge, Lin Jianwei's cumulative pledged shares amount to 68.8 million, representing 38.60% of his total holdings. The company clarifies that the pledge does not involve performance compensation obligations or entrusted voting rights. While Lin Jianwei and his related parties have a significant portion of their shares pledged, Jolywood maintains that this situation poses no risk of forced liquidation and will not impact the company's operations or governance.