Century Huatong: Major shareholder pledges additional shares

Zhejiang Century Huatong Group (SZSE:002602) announced that its primary shareholder, Wang Ji, has pledged an additional 4,000,000 company shares, comprising 2,200,000 shares and 1,800,000 shares in two separate pledges. This represents 0.54% of the company’s total share capital. The pledges, made to Suzhou Gongcheng Enterprise Management Co., Ltd, are set to expire on April 21, 2025, and are for financing purposes. Following this transaction, the total number of Century Huatong shares pledged by Wang Ji and his acting in concert parties amounts to 95,068,490 shares, representing 85.65% of their holdings in the company and 12.76% of Century Huatong's total share capital. The announcement cautioned investors to be aware of risks due to the high proportion of pledged shares.