Kingkey Smart Agriculture shareholder adjusts equity pledge

Shenzhen Kingkey Smart Agriculture Times Co., Ltd. (the company) has disclosed that its controlling shareholder, Kingkey Group Co., Ltd., and its concerted action party, Shenzhen Kingkey Times Industrial Co., Ltd. (Kingkey Times), have undergone changes in their pledged shares. On October 14, 2025, Kingkey Times released a pledge involving 35,000,000 shares, representing 6.60% of the company's total share capital, previously pledged to Industrial and Commercial Bank of China Shenzhen Shentong Sub-branch. Concurrently, Kingkey Times pledged 35,000,000 shares, also 6.60% of total share capital, to Industrial and Commercial Bank of China Shenzhen Dongmen Sub-branch for supplementary working capital.

As of October 14, 2025, Kingkey Group and Kingkey Times have a cumulative pledge of 266,634,360 shares, accounting for 88.24% of their total holdings in the company and 50.28% of the company's total share capital. The company's announcement highlights that the cumulative pledged shares held by the controlling shareholder and its concerted action party represent over 80% of their total holdings, advising investors to be aware of the associated risks.

Kingkey Group and Kingkey Times state that the new pledge is for supplementary working capital, with repayment sources including sales revenue from real estate businesses and rental income. They assure that there are no immediate risks of forced liquidation and that measures such as early repayment or additional collateral would be taken if such risks emerge. The current pledge activities do not alter the company's actual control, production, operations, or corporate governance.