Suzhou Maxwell's controlling shareholder adjusts significant share pledges

Suzhou Maxwell Technologies Co., Ltd. announced that its controlling shareholder, Mr. Zhou Jian, has undertaken new share pledges totaling 17,000,000 shares. This represents 27.50% of his total holdings and 6.08% of the company's total share capital. These new pledges, effective from October 9, 2025, are for the purpose of repaying previous pledge borrowings and involve Huatai Securities (Shanghai) Asset Management Co., Ltd. as the pledgee.

Concurrently, Mr. Zhou Jian released a pledge of 16,500,000 shares, which constituted 26.69% of his holdings and 5.91% of the company's total share capital. This release, dated October 10, 2025, involved CITIC Securities Co., Ltd. These transactions resulted in a net increase of 500,000 pledged shares for Mr. Zhou Jian.

Following these adjustments, Mr. Zhou Jian's cumulative pledged shares stand at 21,700,000, accounting for 35.11% of his holdings and 7.77% of the company's total share capital. Another key shareholder, Mr. Wang Zheng-gen, maintains a pledge of 9,000,000 shares, representing 18.86% of his holdings. Neither shareholder has pledged shares that are restricted or frozen.