Zhangyuan Tungsten: Controlling shareholder partially released pledged shares and re-pledged them.

Zhangyuan Tungsten Industry announced that it received a letter from its controlling shareholder Zhangyuan Holdings on February 27. On February 25, 16.9 million shares were released from pledge, accounting for 2.48% of the shares held and 1.41% of the total share capital; On February 26, 7.9 million shares were pledged, accounting for 1.16% of the shares held and 0.66% of the total share capital, for its own production and operation. As of the disclosure date of the announcement, Zhangyuan Holdings has cumulatively pledged 361 million shares, accounting for 53.02% of the shares held and 30.08% of the total share capital. The corresponding financing balance for the pledged shares due in the next half year and year is 486 million yuan and 636 million yuan respectively, and there is no risk of liquidation or forced transfer.