Shannon Core shareholder releases pledged shares, affiliate gets $30m loan guarantee

Shannon Core Innovation Technology Co., Ltd. announced that its shareholder, Shenzhen Xinlianpu Investment Partnership, has released 4,000,000 pledged shares, representing 0.86% of the company's total share capital. Of these, 3,000,000 shares (0.65% of total share capital) were released from a pledge initiated on 2025/2/18, and 1,000,000 shares (0.22% of total share capital) were released from a pledge initiated on 2025/5/7, both with CITIC Securities Company Limited as the pledgee. Following this release, Shenzhen Xinlianpu’s cumulative pledged shares amount to 5,580,000, or 24.39% of its total holdings, representing 1.20% of the company's total share capital.

Additionally, Shannon Core Innovation Technology Co., Ltd. has provided a maximum guarantee of $30 million for its indirect subsidiary, Hong Kong Haipu Storage Technology Co., Ltd., to obtain a loan from Xiaomi Finance HK Limited. This guarantee is jointly provided by the company, Mr. Huang Zewei, and Ms. Peng Hong, with Wuxi Xinlianpu and Wuxi Haipu Tongchuang providing counter-guarantees to the company based on their respective equity proportions. As of the announcement date, the company's total accumulated guarantees (including counter-guarantees) amount to RMB 7.95 billion, representing 270.65% of the company's net assets as of 2024.