Sungrow Power's controlling shareholder releases significant share pledge

Sungrow Power Supply Co. Ltd. (SZSE:300274) recently disclosed that its controlling shareholder and de facto controller, Mr. Cao Renxian, has completed the release of pledges on a portion of his company shares. The total number of shares released from pledge amounted to 3.50 million shares, representing 0.56% of his total holdings and 0.17% of the company's total share capital. These pledges were released on November 11, 2025, with Silver River Securities as the pledgee.

Following this transaction, Mr. Cao Renxian's cumulative pledged shares now total 20.83 million shares, which accounts for 3.30% of his total holdings and 1.00% of the company's total share capital. Of these pledged shares, 16.371 million are restricted or frozen, representing 78.59% of his currently pledged shares. The company confirmed that Mr. Cao Renxian's pledged shares do not face any immediate risk of liquidation or forced transfer and the change will not affect the company's control.

As of the announcement date, Mr. Cao Renxian and his consistent action party, Su Lei, collectively hold 635.0872 million shares, representing 30.63% of the company's total share capital. The company assured that the pledged shares are not subject to any major asset restructuring or performance compensation obligations, with the restricted type being high-level management lock-up shares.