Sungrow Power's controlling shareholder partially releases and executes share pledge

Sungrow Power (SZSE:300274) announced that Cao Renxian, the company's controlling shareholder, released 3,220,000 shares previously pledged to Galaxy Securities on May 8, 2025. These shares represented 0.51% of Cao's holdings and 0.16% of Sungrow's total share capital. Concurrently, Cao Renxian pledged 1,800,000 shares, representing 0.29% of his holdings and 0.09% of Sungrow's total share capital, to Galaxy Securities on May 7, 2025, for personal capital needs. Following these transactions, Cao Renxian directly holds 63,141,120 shares, representing 30.46% of Sungrow's total share capital. A total of 3,364,700 of his shares are pledged, representing 5.33% of his holdings. The company stated that the current share pledge does not present a risk of forced liquidation and will not lead to a change in control of the company.