Lingyi iTech's majority shareholder pledges shares; guarantees subsidiary debt

** Lingyi iTech (Guangdong) Co., Ltd. (SZSE: 002600) has announced that its controlling shareholder, Lingsheng Investment (Jiangsu) Co., Ltd., pledged 55.5 million shares, representing 1.34% of the total share capital, to GF Securities for supplemental liquidity. This pledge accounts for 0.79% of the company's total share capital. Following the pledge, Lingsheng Investment's cumulative pledged shares increased to 387.1 million, or 9.04% of the company's total share capital. Meanwhile, its debt obligation of subsidiary in Vietnam is guaranteed. In a related development, a subsidiary, Lingyi Technology (Shenzhen), guaranteed a debt of $10M by the Vietnam-based subsidiary, Lingyi Viet Nam. The guarantee, granted to Standard Chartered Bank (Vietnam), falls within previously approved limits. As of the announcement, Lingyi iTech reports total guarantees of RMB 980.54M