Kuang-Chi Technologies: Controlling shareholder halts share transfer, reduces pledge

Kuang-Chi Technologies announced that its controlling shareholder, Tibet Yingbang Industrial Development Co., Ltd. (Tibet Yingbang), will no longer proceed with the agreed transfer of 107,729,394 unrestricted shares, representing 5.00% of the company's total share capital, to Tianjin Jinnan State-owned Capital Investment and Operation Group Co., Ltd. This agreement, initially signed for a transfer price of 17.17 yuan per share, will be terminated, with both parties pursuing non-agreement-based share cooperation. This decision follows a supplemental agreement dated January 21, 2025, and a termination of the voting rights entrustment agreement.

Concurrently, Tibet Yingbang reduced its stake by 1.00% (21,600,000 shares) through block trades between September 25 and September 30, 2025, decreasing its total ownership from 28.00% (603,284,601 shares) to 27.00% (581,684,601 shares). Additionally, Tibet Yingbang announced the release of 100,996,305 pledged shares, accounting for 4.69% of the company's total share capital, with China Minsheng Trust Co., Ltd. as the pledgee.

The company affirmed that these developments would not impact its fundraising projects, governance structure, or ongoing operations. As of June 30, 2025, Kuang-Chi Technologies reported a 13.28% asset-liability ratio and 4.499 bn yuan in monetary capital, with total investment in its Zhuzhou 905 and Tianjin 906 projects amounting to approximately 2.2 bn yuan.