Liangxin Electrical shareholders adjust share pledges, extend financing terms

Shanghai Liangxin Electrical Company announced that its controlling shareholders and actual controllers, Ren Silong, Fan Jianjun, and Chen Ping, recently released pledges on 17,592,800 shares, representing 6.42% of the company's total share capital. These transactions involved multiple pledgees, including Guotai Haitong Securities Co., Ltd. and China CICC Wealth Securities Co., Ltd., with release dates primarily in November 2025.

Concurrently, 28,477,700 shares have had their pledge periods extended, representing 13.16% of the company's total share capital. Ren Silong extended pledges on 8,934,200 shares, while Fan Jianjun extended pledges on 13,177,900 shares, and Chen Ping extended pledges on 6,365,600 shares. Additionally, Ding Fahui, another controlling shareholder, pledged 3,127,000 restricted shares with Guotai Haitong Securities Co., Ltd. for personal financing purposes.

The company stated that the shareholders' current pledges pose a controllable risk, do not involve non-operational fund occupation or illegal guarantees, and are not expected to impact the company's production, operations, or governance. The shareholders possess good credit and repayment capacity, and there is no immediate risk of forced liquidation.