Kaishan Group to release pledged shares after bond maturity

Kaishan Group announced that its controlling shareholder, Kaishan Holding Group, has completed the redemption and delisting of its non-publicly issued exchangeable bonds, known as "22 开山EB" (Bond Code: 117196). The CNY 500 million bond, issued on July 7, 2022, matured on July 6, 2025. As a result, Kaishan Holding Group will soon apply to the China Securities Depository and Clearing Corporation Limited Shenzhen Branch to release the pledge on 81,559,375 shares of Kaishan Group. These shares, initially pledged to secure the bond's exchange and repayment obligations, will be transferred back to Kaishan Holding Group's proprietary securities account after the release. An additional 3,440,625 shares had been released during the exchange period. Kaishan Group will monitor the share release and fulfill its disclosure obligations accordingly.