Wanliyang controlling shareholder pledges additional shares for operations

Zhejiang Wanliyang Co., Ltd. announced that its controlling shareholder, Wanliyang Group Co., Ltd., has pledged 35,250,000 shares, representing 8.89% of its total holdings and 2.69% of the company's total share capital. The pledge, effective from December 1, 2025, with China Everbright Bank Jinhua Branch as the pledgee, is for the Group's production and operational needs. The shares are not subject to any major asset restructuring or performance compensation obligations.

Following this transaction, Wanliyang Group and its concerted parties currently have 212,250,000 shares pledged, constituting 53.52% of their total holdings and 16.17% of the company's total share capital. The pledged shares are not subject to any sales restrictions, freezes, or other encumbrances.

The company further disclosed that the controlling shareholder and its concerted parties have 89,000,000 pledged shares maturing within the next year, representing 22.44% of their holdings and 6.78% of the company's total share capital, with a corresponding financing balance of 300,000,000 yuan. These obligations are intended to be met through the Group's and its concerted parties' operational income. The pledge is not expected to impact the company's operations, governance, or performance compensation obligations.