Zhongjian Technology's controlling shareholder unpledges significant shares

Zhejiang Zhongjian Technology Co., Ltd. announced that its controlling shareholder, Zhongjian Mechanical and Electrical Group Co., Ltd., has unpledged 14 million shares. This represents 24.01% of Zhongjian Mechanical and Electrical's total shareholding and 7.58% of the company's total share capital. The unpledging, which occurred on November 3, 2025, relates to a pledge initiated on March 29, 2021, with China CITIC Bank Co., Ltd. Jinhua Yongkang Branch.

Following this transaction, Zhongjian Mechanical and Electrical Group's total pledged shares amount to 33.796 million shares, representing 57.97% of its total holdings and 18.29% of the company's total share capital. The company clarified that the controlling shareholder's credit and financial condition are sound, with sufficient repayment capacity, and the pledged shares do not pose a risk of forced liquidation.

The announcement further states that Zhongjian Mechanical and Electrical Group and its concerted parties collectively hold 85.008 million shares, representing 46.00% of the total share capital. Of these, 33.796 million shares remain pledged, accounting for 39.76% of their combined holdings and 18.29% of the company's total share capital.