Kuaiji Mountain's controlling shareholder completes the release of 4.22 million shares and pledges an additional 5 million shares, with the total pledge ratio rising to 74.85%

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On March 27, Kuaijishan Shaoxing Wine Co., Ltd. (stock code: 601579, stock abbreviation: Kuaijishan) announced the release and re-pledging of part of the equity of its controlling shareholder. The announcement shows that the company’s controlling shareholder, Zhongjianxin (Zhejiang) Venture Capital Co., Ltd. (hereinafter referred to as “Zhongjianxin Zhejiang Company”), released the pledge on 4.22 million shares and then immediately pledged another 5 million shares, increasing the total pledge ratio.

Controlling shareholder releases pledge and then pledges again, net increase of 780,000 pledged shares

According to the announcement, on March 24, Zhongjianxin Zhejiang Company completed the release of the pledge on 4.22 million shares pledged to the Export-Import Bank of China Zhejiang Branch. This portion of shares accounts for 2.83% of the total shares held by it and 0.88% of the company’s total share capital.

After the release of the pledge, Zhongjianxin Zhejiang Company has 106,641,640 shares remaining under pledge, accounting for 71.50% of its total shares held and 22.24% of the company’s total share capital.

However, just one day later, on March 25, Zhongjianxin Zhejiang Company completed the pledge registration for 5 million shares at the Shanghai Branch of China Securities Depository and Clearing Co., Ltd., with the pledgee also being the Export-Import Bank of China Zhejiang Branch. The 5 million pledged shares are tradable shares, accounting for 3.35% of the total shares held by it and 1.04% of the company’s total share capital. The pledge period is from March 24, 2026, to March 24, 2027, with the financing purpose being for the company’s production and operation needs.

Cumulative pledge ratio reaches 74.85%, controlling shareholder has good credit status

After this pledge is completed, the total number of pledged shares of Zhongjianxin Zhejiang Company increases from 106,641,640 shares to 111,641,640 shares. Based on its holding of 149,158,200 shares (accounting for 31.11% of the company’s total share capital), the cumulative pledged shares account for 74.85% of its total shares held, an increase from 71.50%, while the ratio of total pledged shares to the company’s total share capital increases from 22.24% to 23.28%.

The announcement also pointed out that as of the date of this announcement, the company’s controlling shareholder does not have any other pledged company shares that will expire within the next six months or one year. Zhongjianxin Zhejiang Company has a good credit status and possesses the corresponding repayment ability. The sources of funds for repaying the pledged financing mainly include operating income, dividends from listed company stocks, investment income, self-raised funds, etc. The risks of this pledge are within controllable limits, with no agreements for forced liquidation. Should risks arise in the future, the controlling shareholder will take measures including but not limited to providing additional guarantees and early repayment to address them.

Kuaijishan emphasized in the announcement that this share pledge by the controlling shareholder will not have any impact on the company’s production operations or governance, nor will it lead to any changes in actual control of the company. The controlling shareholder also does not have any performance compensation obligations to fulfill, and there are no instances of harming the interests of the listed company through non-operational fund occupation, illegal guarantees, related transactions, etc. The company will continue to monitor the share pledge situation of the controlling shareholder, strictly adhere to relevant regulations, and promptly fulfill information disclosure obligations.

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Editor: Xiaolang Express Report