Zhefu Holding’s controlling shareholder adjusts share pledges

Zhefu Holding Group Co. announced that its controlling shareholder, Tonglu Yuantong Industrial Co., Ltd., has pledged 119m shares. This represents 9.07% of its total holdings and 2.28% of the company's total share capital. The new pledges, made to Guotai Haitong Securities Co., Ltd. to meet funding needs, have expiry dates ranging from November 24, 2025, to November 25, 2025.

Concurrently, Tonglu Yuantong Industrial Co., Ltd. released a pledge of 62m shares, which constituted 4.73% of its holdings and 1.19% of the company's total share capital. This release pertained to shares previously pledged to China Merchants Bank Co., Ltd. Hangzhou Branch, with the original pledge starting on November 25, 2024, and released on November 26, 2025.

Following these transactions, the controlling shareholder and its concerted parties have a cumulative 924,562,602 pledged shares, accounting for 52.64% of their total holdings and 17.71% of the company's total share capital. The company clarified that these pledge adjustments will not alter the actual control of the company, impact its core business or ongoing operations, and do not pose immediate risks of forced liquidation.