Songcheng Performance's controlling shareholder repledges significant stake

Hangzhou Songcheng Group, the controlling shareholder of Songcheng Performance Development, recently re-pledged 99,000,000 shares, representing 13.66% of its holdings and 3.77% of the company's total share capital. The re-pledge, for financing purposes unrelated to the company's operations, commenced on December 11, 2025, and is set to expire upon registration of its release. The pledgee is Industrial and Commercial Bank of China, Hangzhou Branch.

As of December 15, 2025, Hangzhou Songcheng Group holds 724,835,254 shares, accounting for 27.62% of Songcheng Performance's total equity. Of these, 349,000,000 shares, or 48.15% of its total holdings, are currently pledged. The group and its concerted parties collectively hold 1,071,049,880 shares, with 349,000,000 shares pledged, representing 32.58% of their combined holdings.

These transactions are noted alongside Songcheng Performance’s announcement of a share repurchase plan approved on December 9, 2025. Hangzhou Songcheng Group is the largest shareholder with 724,835,254 shares, or 27.62% of total share capital, and 30.73% of unrestricted floating shares.