Zhang Xiaoquan (301055): Shareholder Zhang Xiaoquan Group's 44.04 million shares released from queued freeze status, accounting for 29.09% of total share capital

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On March 16, Zhang Xiaoquan Co., Ltd. (Stock Code: 301055, Stock Abbreviation: Zhang Xiaoquan) announced that the 44,043,709 shares held by the company’s shareholder holding more than 5%, Hangzhou Zhang Xiaoquan Group Co., Ltd. (hereinafter referred to as “Zhang Xiaoquan Group”), have been released from lock-up. This accounts for 100% of its holdings and 29.09% of the company’s total share capital after excluding repurchased shares.

The announcement shows that the lock-up release started on February 10, 2025, and will end on March 12, 2026. The lock-up release is managed by the People’s Court of Xiuzhou District, Jiaxing City.

It is understood that this lock-up release is due to the application by Fuchun Holding Group Co., Ltd. (hereinafter referred to as “Fuchun Holding”) and its related companies’ restructuring administrator to the People’s Court for the release of property preservation measures involving Zhang Xiaoquan Group. The relevant court accepted the application and lifted the lock-up on the shares. Fuchun Holding is an indirect controlling shareholder of Zhang Xiaoquan Group.

As of the disclosure date of this announcement, Zhang Xiaoquan Group holds 44,043,709 shares of the company, accounting for 28.23% of the total share capital, and 29.09% after excluding repurchased shares. Its total judicial frozen shares amount to 44,043,709, representing 100% of its holdings and 29.09% of the company’s total share capital after excluding repurchased shares. The total shares under lock-up are 38,595,871, which is 87.63% of its holdings and 25.49% of the company’s total share capital after excluding repurchased shares.

The announcement also states that as of the disclosure date, the company has no controlling shareholder or actual controller. Whether Fuchun Holding and its related companies can successfully restructure remains uncertain. Future restructuring may lead to adjustments in Zhang Xiaoquan Group’s holdings in the listed company. Currently, the company’s production and operations are normal, and this matter will not affect the daily operations of the listed company. The company will closely monitor the progress of related matters and remind relevant parties to fulfill their disclosure obligations in a timely manner.

Zhang Xiaoquan stated that the company will continue to strive to improve management and operations to ensure stable development. Investors are advised to make cautious decisions and be aware of investment risks. All information about the company is based on disclosures in designated media such as China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily, and Juchao Information Network.

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