Hangzhou Zhongheng Electric's major shareholder unpledges significant stock block

Hangzhou Zhongheng Electric Co., Ltd. announced that its controlling shareholder, Hangzhou Zhongheng Technology Investment Co., Ltd. ("Zhongheng Investment"), has unpledged 18,000,000 shares. This represents 8.98% of Zhongheng Investment's total holdings and 3.19% of the company's total share capital. The pledge, originally initiated on October 19, 2023, was released on November 19, 2025.

Following this transaction, Zhongheng Investment's cumulative pledged shares now stand at 29,000,000 shares, accounting for 14.47% of its holdings and 5.15% of the company's total share capital. The company emphasized that this unpledging does not pose any risk of forced liquidation or a change in actual control.

As of the announcement date, the controlling shareholder's pledged shares are not subject to any immediate sale risks, and the company confirmed no adverse impact on its production, operations, or corporate governance. Hangzhou Zhongheng Electric will continue to monitor share pledge activities and disclose relevant information in compliance with regulations.