Leo Group shareholder unpledges significant block of shares

Leo Group announced that shareholder Mr. Wang Zhuangli has released 40 million shares from pledge, representing 7.94% of his total holdings and 0.59% of the company's total share capital. The shares, originally pledged to China Zheshang Bank Co., Ltd. Taizhou Wenling Sub-branch, were successfully released. This transaction reduces Mr. Wang Zhuangli's cumulative pledged shares from 25 million to 21 million.

Following this release, the combined pledged shares of the company's actual controllers and their concerted parties now stand at 498.5 million shares, down from 538.5 million shares. This represents 43.68% of their total holdings and 7.36% of the company's total share capital. Mr. Wang Xiangrong, another actual controller, maintains 288.5 million pledged shares, accounting for 45.26% of his holdings.

The company confirmed that there are no freezing situations for the shares held by the actual controllers and their concerted parties. This recent release contributes to a more flexible equity structure for the key shareholder.