Zhejiang Jiemei’s controlling shareholder adjusts share pledge arrangements

Zhejiang Yuanlong Equity Investment Management Group, the controlling shareholder of Zhejiang Jiemei Electronic & Technology, announced a new share pledge of 10,000,000 shares, representing 4.96% of its holdings and 2.32% of the company's total share capital. This pledge, for financing purposes with CITIC Securities, is effective from November 26, 2025, to November 26, 2026. These are non-restricted, non-replenishment shares.

Concurrently, Zhejiang Yuanlong released a pledge of 23,500,000 shares, which constituted 11.67% of its total holdings and 5.45% of the company's total share capital. This release, also involving CITIC Securities, was effective from November 28, 2024, to November 27, 2025. Following these transactions, Zhejiang Yuanlong’s cumulative pledged shares amount to 69,200,000 shares, representing 34.35% of its holdings and 16.06% of the company's total share capital.

The company stated that Zhejiang Yuanlong maintains a sound credit profile and possesses the capacity to repay its debts. The current pledge is deemed within controllable risk, with no immediate liquidation risk or change in control.