Jinhe Commercial Management: the controlling shareholder has released the pledge of 24.5 million shares.

Jinhe Commercial Management announced that the company's controlling shareholder, Jinhe Group, holds 274 million shares of the company, accounting for 58.00% of the total share capital. On July 9th, Jinhe Group released 24.5 million pledged shares, accounting for 8.94% of its holdings and 5.19% of the total share capital of the company. After this release, Jinhe Group has a total of 49.5 million pledged shares, accounting for 18.06% of its shareholding and 10.48% of the total share capital of the company. Currently, the pledged risk of Jinhe Group is under control and will not have a significant impact on the company.