Chang Shan Beiming: The controlling shareholder, Chang Shan Group, pledged 1.25% of the total share capital.

Changshan Beiming announced that its controlling shareholder Changshan Group pledged 20 million shares of the company to Guotai Haitong Securities Co., Ltd. on December 22, 2025, with a pledge term until June 22, 2026, accounting for 4.37% of its holdings and 1.25% of the total share capital of the company, to repay interest-bearing liabilities of its subsidiary. As of the disclosure date, Changshan Group holds 457 million shares, accounting for 28.60%, and has pledged a total of 20 million shares, accounting for 4.37% of its holdings and 1.25% of the total share capital of the company.