Sungrow Power's controlling shareholder partially releases and pledges shares

Sungrow Power (SZSE:300274) announced today that Cao Renxian, the company's controlling shareholder and actual controller, has completed transactions involving the release of 7,000,000 shares previously pledged (representing 0.11% of total share capital) and a new pledge of 4,200,000 shares (0.07% of total share capital) for personal capital needs. The release occurred on May 16, 2025, with Galaxy Securities as the pledgee, while the new pledge was effective as of May 15, 2025, and will last until May 14, 2027, also with Galaxy Securities. Following these transactions, Cao Renxian has cumulatively pledged 33,367,000 shares, accounting for 5.28% of his holdings and 1.61% of Sungrow's total share capital. The company clarified that these pledges do not present a risk of forced liquidation and will not lead to a change in control of Sungrow Power.