Fuchun Shares: Controlling shareholder pledges 11 million shares as collateral for third-party financing

NightAirdropper · 2026-03-23T17:23:51+00:00

Fuchun Shares announced that the controlling shareholder will pledge 11 million shares as collateral for third-party financing. The company's operating income and net profit have been continuously declining, with a significant decrease in net profit expected from 2022 to 2024, and its debt-to-asset ratio is increasing. The company faces certain Tianyan (credit risk) risks and should pay attention to future developments.

NightAirdropper

2026-03-23 17:23:51

Abstract generation in progress

Radar Finance | Yang Yang Edited by | Li Yihui

On March 20, Fuchun Co., Ltd. (Stock Code: 300299) announced that its controlling shareholder, Fujian Fuchun Investment Co., Ltd., pledged 11,000,000 shares to Zhejiang Merchants Bank Co., Ltd., Fuzhou Branch, accounting for 10.69% of its holdings and 1.59% of the company’s total share capital. The pledge started on March 19, 2026, and will end upon the registration of the解除质押. The pledged shares are used as collateral for third-party financing.

As of the disclosure date, Fujian Fuchun Investment Co., Ltd. and its concerted actors have pledged a total of 78,000,000 shares, representing 39.22% of their holdings and 11.30% of the company’s total share capital. The company stated that the controlling shareholder’s credit status is good, and there is no risk of forced liquidation or transfer of the pledged shares. The company will continue to monitor the progress of the share pledge and fulfill its disclosure obligations promptly.

According to Tianyancha, Fuchun Co., Ltd. was established on March 2, 2001, with a registered capital of 690.300085 million RMB. The legal representative is Yang Fangxi. The registered address is No. 25, Building C, No. 89 Software Avenue, Tongpan Road, Gulou District, Fuzhou City. Its main businesses are mobile gaming and communication information services.

Currently, the company’s chairman is Yang Fangxi, the secretary is Lin Jianping, with 730 employees, and the actual controller is Miao Pinzhang.

The company has 22 affiliated companies, including Shanghai Wandou Network Technology Co., Ltd., Shanghai Junye Network Technology Co., Ltd., Shanghai Juntong Network Technology Co., Ltd., Fuchun Huilian (Xiamen) Information Technology Co., Ltd., Junmeng Network Technology (Pingtan) Co., Ltd., and others.

In terms of performance, the company’s operating income for 2022, 2023, and 2024 was 403 million yuan, 331 million yuan, and 288 million yuan, respectively, with year-on-year changes of -28.80%, -17.77%, and -13.20%. Net profit attributable to the parent was 40.53 million yuan, 8.60 million yuan, and -137 million yuan, with year-on-year changes of -45.99%, -78.78%, and -1691.44%. During the same period, the company’s asset-liability ratio was 44.16%, 43.55%, and 55.39%.

Regarding risks, Tianyancha data shows the company has 318 internal Tianyan risks, 412 surrounding risks, 38 historical risks, and 311 early warning risks.

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