GCL System Integration's major shareholders re-pledge significant shareholdings

GCL System Integration Technology announced that its controlling shareholder, GCL Group Co., Ltd. (GCL Group), and concerted party, Yingkou Qiyin Investment Management Co., Ltd. (Yingkou Qiyin), have re-pledged a significant number of their shares. GCL Group released and subsequently re-pledged 103,000,000 shares, representing 22.10% of its holdings and 1.76% of the company's total share capital. Yingkou Qiyin re-pledged 27,000,000 shares, accounting for 6.29% of its holdings and 0.46% of the company's total share capital. All re-pledged shares are for financing guarantees for the respective entities or their related parties, with Huaxia Bank Suzhou Branch as the pledgee.

As of the announcement date, GCL Group has cumulatively pledged approximately 466,030,304 shares, Yingkou Qiyin approximately 377,000,000 shares, and Jiangsu GCL Construction Management Co., Ltd. (also a concerted party) approximately 520,000,000 shares. The funds obtained are primarily used to support the daily operations and business development of the shareholders and their related parties.

The company stated that the share pledge matters do not materially impact its production, operations, or corporate governance. The shareholders’ businesses are currently operating normally, and they possess strong repayment capabilities, with future funds primarily sourced from their operating or investment income.