Kingland Pipeline: Controlling shareholder re-pledges stake

Zhejiang Kingland Pipeline & Technologies (SZSE:002443) announced that its controlling shareholder, Shanghai Kingland Wisdom Enterprise Development Group, has released and subsequently re-pledged a portion of its shares. Specifically, 39,285,800 shares were released from pledge, representing 7.55% of the company’s total share capital. Subsequently, Shanghai Kingland Wisdom re-pledged 39,285,800 shares, with 13,000,000 pledged to Zhejiang Yintong Pawn Co., Ltd and 26,285,800 pledged to Guotong Trust Co., Ltd. Following these transactions, Shanghai Kingland Wisdom holds 55,000,000 shares in pledged status, accounting for 49.75% of its holdings and 10.57% of Kingland Pipeline's total share capital. The company clarified that the re-pledge does not involve performance compensation obligations or changes in actual control of the company.