Hongxin Electron-Tech controlling shareholder unpledges significant block of shares

Xiamen Hongxin Electron-Tech Group Co. (300657) disclosed that its controlling shareholder, Hongxin Entrepreneurship Investment Group Co., recently completed the unpledging of 4,200,000 shares. This transaction represents 4.99% of Hongxin Entrepreneurship's total holdings in the company and 0.87% of the company's total share capital. The shares were originally pledged to Shanghai Zhangjiang Technology Small Loan Co., with the pledge period spanning from November 7, 2024, to November 6, 2025.

Following this release, Hongxin Entrepreneurship's cumulative pledged shares now stand at 19,450,000, accounting for 23.10% of its total holdings and 4.03% of Xiamen Hongxin Electron-Tech's total share capital. The controlling shareholder currently holds 84,185,311 shares, representing 17.45% of the company's total shares.

The company emphasized that the controlling shareholder's pledged shares currently do not pose a risk of forced liquidation and do not impact the company's production, operations, or corporate governance. This action will not lead to a change in the company's control. Xiamen Hongxin Electron-Tech Group will continue to monitor the status of its controlling shareholder's pledged shares and related risks, fulfilling its information disclosure obligations in accordance with relevant regulations.