Kuang-Chi Technologies controlling shareholder unpledges, transfers shares

Kuang-Chi Technologies announced that its controlling shareholder, Tibet Yingbang Industrial Development Co., Ltd. (Tibet Yingbang), unpledged 76,381,100 shares, representing 13.72% of its held shares and 3.55% of the company's total share capital. The pledge was released between January 6, 2025, and October 13, 2025, with Tianjin Jinnan State-owned Capital Investment and Operation Group Co., Ltd. as the pledgee.

Concurrently, Tibet Yingbang reduced its stake in Kuang-Chi Technologies by 24,800,000 shares through block trades between October 9 and October 14, 2025. This transfer accounts for 1.15% of the company's total share capital, resulting in Tibet Yingbang's ownership decreasing from 27.00% to 25.85%.

The company clarified that these actions will not lead to a change in the company's control or actual controller and will not negatively impact its governance or ongoing operations. The proceeds from the share transfers are intended to mitigate debt and lower the pledge ratio.