Grandland Group shareholder's entire stake frozen by court order

Shenzhen Grandland Group Co., Ltd. disclosed that 192,000,000 shares held by Mr. Ye Yuanxi, a shareholder with over a 5% stake, have been rotationally pre-emptively frozen. This represents 5.12% of the company's total share capital and 100% of Mr. Ye Yuanxi's direct holdings. The freeze is effective until August 29, 2025.

Including Mr. Ye Yuanxi's direct holdings, his consistent action party, Grandland Holdings Group Co., Ltd., has a total of 765,694,098 shares frozen, accounting for 20.41% of the company's total share capital. The combined total of rotationally pre-emptively frozen shares for Mr. Ye Yuanxi and Grandland Holdings Group Co., Ltd. is 2,180,960,128, representing 284.83% of their total holdings.

Despite the freeze, Grandland Holdings and its consistent action party are not the controlling shareholders of Shenzhen Grandland Group. The company states that the share freeze will not significantly impact its production and operations and will monitor developments, providing timely disclosures.