Pingtan development responds to abnormal stock volatility, unpledging of shares

Zhongfu Straits Pingtan Development's stock (SZSE:000592) experienced abnormal fluctuations, with its closing price deviating by over 20% across two consecutive trading days. The company confirmed that its operations and external environment remain unchanged, and no undisclosed material information, including any plans, negotiations, or agreements, exists.

In a related announcement, controlling shareholder Fujian Shanpu Industrial Development Co., Ltd. unpledged 36m shares of the company's stock on November 4, 2025. This transaction represents 10.88% of Shanpu Industrial’s holdings and 1.86% of the company's total share capital. Following this unpledging, Shanpu Industrial now has 104m pledged shares, accounting for 31.42% of its total holdings.

The company reiterated that Shanpu Industrial's remaining pledged shares do not pose a significant risk of forced liquidation or transfer. Investors are advised to exercise caution due to potential irrational trading behaviors. The company's latest quarterly report was disclosed on October 31, 2025, and all official information is published on the designated media outlets.