Shenghong's controlling shareholder pledges shares for exchangeable bonds

Jiangsu Shenghong Technology Co., Ltd., the controlling shareholder of Jiangsu Eastern Shenghong, has pledged 540,000,000 A-share shares of the company as collateral for its proposed non-public issuance of exchangeable corporate bonds. The pledge registration was completed on December 11, 2025, with China Securities Depository and Clearing Corporation Limited Shenzhen Branch, to ensure the exchange of underlying shares and repayment of principal and interest to bondholders. These pledged shares represent 18.89% of Shenghong Technology's total holdings and 8.17% of Jiangsu Eastern Shenghong's total share capital.

As of the announcement date, Shenghong Technology and its concert parties have a cumulative pledged share count that accounts for 15.29% of their total holdings. The company assures that this pledge does not involve any non-operational fund occupation or illegal guarantees, does not pose an immediate risk of forced liquidation, and will not alter the company's actual control.

The exchangeable bonds have received a "No Objection Letter" from the Shenzhen Stock Exchange. The company commits to timely disclose further information regarding the bond issuance in accordance with regulatory requirements.