Gansu Shangfeng Cement Holdings' controlling shareholder pledged 12 million shares to supplement working capital.

Gansu Shangfeng Cement Co., Ltd. announced that its controlling shareholder, Zhejiang Shangfeng Holding Group Co., Ltd., recently pledged 12 million shares, accounting for 3.73% of its holdings and 1.24% of the total share capital of the company. The pledge started on September 25, 2025, with Ningbo Bank Co., Ltd. Shaoxing Branch as the pledgee for the purpose of supplementing working capital. As of the disclosure date of the announcement, Shangfeng Holding and its concerted parties held 321,479,293 shares, accounting for 33.16% of the total. After this pledge, the number of pledged shares reached 93,100,000, accounting for 28.96% of its holdings and 9.60% of the total share capital of the company, with no restrictions or freezes on the shares.