Shengxin Lithium Energy shareholders release 30.5m pledged shares

Shengxin Lithium Energy Group announced its controlling shareholder Shenzhen Shengtun Group and related parties released 30.5 million pledged shares in late July, following the delisting of exchangeable corporate bonds.

The releases occurred over two days, with subsidiary companies releasing 11.05 million shares on July 28, followed by Shengtun Group releasing 19.45 million shares on July 29.

Despite the releases, the controlling shareholder group still has 102.9 million shares pledged, representing 49.35% of their total holdings and 11.24% of the company's share capital.