Xiamen Hongxin controlling shareholder pledges more shares for financing

Xiamen Hongxin Electron-Tech Group Co., Ltd. announced today that its controlling shareholder, Hongxin Entrepreneurship Industrial Park Investment Group Co., Ltd., has pledged an additional 2.55m shares of the company. This transaction represents 3.03% of Hongxin Entrepreneurship's holdings and 0.53% of the company's total share capital. The shares are pledged to Banco Internacional de Macau, S.A. for financing purposes, with the pledge scheduled to expire on September 16, 2025.

Following this latest transaction, Hongxin Entrepreneurship's total pledged shares now stand at 25.75m, up from 23.2m shares previously. These pledged shares account for 30.59% of Hongxin Entrepreneurship's total holdings and 5.34% of the company's total share capital. All pledged shares are unrestricted and not subject to freezing or marking.

The company stated that the controlling shareholder's pledged shares currently do not pose a risk of forced liquidation and do not impact the company's production, operations, or corporate governance, nor will they lead to a change in control. The company will continue to monitor the pledging activities and associated risks of its controlling shareholder and fulfill information disclosure obligations as required.