Changchuan Technology's controlling shareholder unpledges shares amid trading volatility

Hangzhou Changchuan Technology announced that its controlling shareholder, Zhao Yi, has unpledged 22.42m shares, representing 15.84% of his total holdings and 3.58% of the company's total share capital. Zheshang Securities Co., Ltd. was the pledgee. This transaction took place between March 20, 2025, and September 19, 2025. Following this release, Zhao Yi's pledged shares now stand at 0, while his total holdings remain at 141.56m shares.

Concurrently, Hangzhou Changchuan Investment Management Partnership (Limited Partnership), an entity acting in concert with the actual controller, completed a share reduction plan. Between August 25, 2025, and September 24, 2025, it reduced its holdings by 11.22m shares through centralized bidding and block trades, accounting for 1.7796% of the company's total share capital. The total holdings of the controlling shareholder and parties acting in concert now amount to 167.9m shares, or 26.6312% of the company's total share capital.

These developments occurred as the company's stock experienced abnormal fluctuations, with its closing price deviation cumulatively increasing by over 30% during two consecutive trading days (September 23 and 24, 2025). The company clarified that its current operations are normal, there are no undisclosed material events, and its previously announced private placement and Q3 2025 performance forecast remain in the application and disclosure phases, respectively.