Red Phase Co., Ltd: Controlling shareholder Yang Baotian pledged 11 million shares.

Red Phase Co., Ltd. Announcement: Mr. Yang Baotian, the controlling shareholder of the company, pledged 11 million shares, accounting for 18.40% of his holding, and 2.16% of the total share capital of the company. The pledged shares are to provide guarantee for the bank credit of Xiamen Red Inspire New Materials Co., Ltd. As of the disclosure date of the announcement, Mr. Yang Baotian has pledged a total of 11 million shares, accounting for 18.40% of his holding, and 2.16% of the total share capital of the company. The company stated that the above-mentioned pledge risk is within a controllable range and will not have a significant adverse impact on the production and operation of the company or corporate governance.