Guangdong Golden Dragon shareholders pledge more holdings for financing

Guangdong Golden Dragon Development announced that two of its major shareholders, Zhu Fenglian and Yang Zhimao, have pledged a total of 7.2 million shares. Zhu Fenglian pledged 6.7 million shares, representing 5.07% of her holding and 0.75% of the company's total share capital. Yang Zhimao pledged 500,000 shares, equating to 1.39% of his holding and 0.06% of the company's total share capital. The pledges are for financing purposes, with collateral provided to Dongguan Yansheng Industrial Investment Partnership (Limited Partnership).

Following these transactions, Zhu Fenglian's cumulative pledged shares amount to 131.6 million, representing 99.61% of her total holding and 14.69% of the company's total share capital. Yang Zhimao has pledged 36 million shares, accounting for 100% of his holding and 4.02% of the company's total share capital. Dongguan New Century Science and Education Development Co., Ltd., the controlling shareholder, also has 97.20% of its holdings, or 157.95 million shares, pledged, representing 17.63% of the company's total share capital.

The controlling shareholder and its concerted parties have a cumulative total of 252.35 million pledged shares maturing within the next six months, representing 76.33% of their total holdings and 28.16% of the company's total share capital, corresponding to a financing balance of 1.185 billion yuan. Within one year, 297.55 million pledged shares will mature, representing 90.00% of their total holdings and 33.21% of the company's total share capital, with a financing balance of 1.527 billion yuan. The company stated that these pledges are not expected to impact its operations or corporate governance, and the shareholders have the capacity to repay the funds.