Kuangda Technology controlling shareholder adjusts share pledge arrangement

Kuangda Technology Group Co., Ltd. (SZSE:002516) announced that its controlling shareholder and actual controller, Shen Jieliang, has completed the release and re-pledge of a portion of his shares. On November 13, 2024, Shen Jieliang released a pledge of 41.35 million shares, representing 6.03% of his total holdings and 2.81% of the company's total share capital. The original pledgee was Guotai Haitong Securities Co., Ltd.

Immediately following the release, Shen Jieliang re-pledged 55.00 million shares. These re-pledged shares account for 8.02% of his total holdings and 3.74% of the company's total share capital, with Guotai Haitong Securities Co., Ltd. also serving as the pledgee for this new arrangement. The purpose of this re-pledge is for share replacement.

As of the announcement date, Shen Jieliang and his concerted parties hold a combined 738.515414 million shares, representing 50.21% of Kuangda Technology's total share capital. A total of 212.90 million shares held by Shen Jieliang are currently pledged, which constitutes 31.04% of his total holdings and 14.47% of the company's total share capital. The company affirmed that these share pledge activities have not had a material impact on its operations, governance, or financial performance, and there is no risk of liquidation.