China Tianying's actual controller executes share release and pledge

China Tianying announced that its actual controller, Yan Shengjun, has released 6,400,000 shares and pledged 6,148,000 shares. The released shares accounted for 2.56% of the company's total share capital. The pledged shares accounted for 2.46% of the company's total share capital and serve as a pledge guarantee. Cumulatively, Yan Shengjun and his concerted parties, including Nantong Qianchuang Venture Capital and Nantong Kunde Investment, have pledged a total of 40,826,000 shares, accounting for 16.33% of the total share capital. The company states that Mr. Yan has sufficient risk control and repayment capabilities, and the share pledge does not pose a risk of forced liquidation or a change in control of the company.