GCL Energy's controlling shareholder re-pledges significant shareholding

GCL Energy Technology (002015) announced that its controlling shareholder, Shanghai Qichen Enterprise Management Co., Ltd., recently completed the release and re-pledge of a portion of its shares. The re-pledged shares include 56,000,000 shares (8.08% of Shanghai Qichen's holding and 3.45% of GCL Energy's total share capital), 45,000,000 shares (6.49% of Shanghai Qichen's holding and 2.77% of GCL Energy's total share capital), and 7,900,000 shares (1.14% of Shanghai Qichen's holding and 0.49% of GCL Energy's total share capital). The re-pledges are primarily for related party financing guarantees.

Following these transactions, Shanghai Qichen and its concerted party, Shanghai GCL Innovation Development Enterprise Management Co., Ltd., have a cumulative 772,510,988 shares pledged. This accounts for 99.09% of their combined holdings and 47.59% of GCL Energy's total share capital. The announcement highlighted that the total pledged shares exceed 80% of the controlling shareholder's holdings. This activity is unrelated to the company's production and operation needs and is not expected to materially impact GCL Energy's operations or corporate governance.

The controlling shareholder's financing via pledge is sourced from self-raised funds, with good credit and robust repayment capacity. The company has clarified that there is no risk of margin calls and no adverse impact on the company's control, production, or operations. GCL Energy will continue to monitor share pledge activities and ensure timely information disclosure.