Fanfan Co., Ltd. Controlling Shareholder Pledges 12.11 Million Shares; Cumulative Pledge Ratio Reaches 9.53%

MaticHoleFiller · 2026-03-23T19:28:01+00:00

Changshu Fanfan Power Equipment Co., Ltd.'s controlling shareholder Tangshan Industrial Holding Group has pledged 12.11 million shares, with a pledge ratio reaching 31.70%. The company states that the pledge will not affect its main business operations and governance, and the controlling shareholder maintains good creditworthiness.

MaticHoleFiller

2026-03-23 19:28:01

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On March 20, Changshu Fengfan Power Equipment Co., Ltd. (Stock Code: 601700, Stock Abbreviation: Fengfan Co., Ltd.) announced that its controlling shareholder, Tangshan Industrial Holding Group Co., Ltd. (hereinafter referred to as “Tangshan Gongke”), has pledged some of its shares in the company. The number of pledged shares this time is 12.11 million, accounting for 3.54% of its holdings and 1.06% of the total share capital of the company.

The announcement shows that Tangshan Gongke currently holds 342,559,785 shares of Fengfan Co., Ltd., accounting for 30.08% of the total share capital. After this pledge, the total pledged shares amount to 108,575,337, representing 31.70% of its holdings and 9.53% of the company’s total share capital.

The basic information about the pledged shares by the shareholder is as follows:

Shareholder Name	Is Controlling Shareholder	Pledged Shares (Shares)	Are Restricted Shares	Is Additional Pledge	Pledgee	Shareholding Ratio (%)	Pledge as % of Total Shares (%)	Purpose of Pledge Financing
Tangshan Industrial Holding Group Co., Ltd.	Yes	12,110,000	No	No	Bank of Communications, Tangshan Branch	3.54	1.06	Loan

It is worth noting that the company canceled the repurchase plan (Phase II) on March 10, 2026, repurchasing 3,489,400 shares, which reduced the total shares from 1,142,246,700 to 1,138,757,300. This cancellation caused Tangshan Gongke’s shareholding ratio to passively increase from 29.99% to 30.08%.

As of the disclosure date, the controlling shareholder Tangshan Gongke’s pledged shares are as follows:

Shareholder Name	Number of Shares Held	Shareholding Ratio (%)	Cumulative Pledged Shares Before This Pledge	Cumulative Pledged Shares After This Pledge	Pledged Shares as % of Holdings (%)	Pledged Shares as % of Total Shares (%)	Restricted Shares Among Unpledged Shares	Restricted Shares Among Pledged Shares	Frozen Shares Among Unpledged Shares	Frozen Shares Among Pledged Shares
Tangshan Industrial Holding Group Co., Ltd.	342,559,785	30.08	96,465,337	108,575,337	31.70	9.53	0	0	0	0
Total	342,559,785	30.08	96,465,337	108,575,337	31.70	9.53	0	0	0	0

The company states that the controlling shareholder’s share pledge business will not have a substantial impact on the company’s main business, financing credit, financing costs, or ongoing operational capacity, nor will it affect corporate governance. Currently, the controlling shareholder’s credit status is good, the pledge ratio of the company’s shares held is within a reasonable range, and they have the ability to repay funds. The pledge risk is controllable, with no margin calls or forced liquidations occurring. If the company’s stock price hits the warning or margin call line, the controlling shareholder will take measures including but not limited to additional margin deposits and supplementary pledges.

Fengfan Co., Ltd.'s board of directors will continue to monitor the pledge situation of the controlling shareholder’s shares, strictly comply with relevant regulations, fulfill disclosure obligations in a timely manner, and remind investors to be aware of investment risks.

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