Binhua Group's Largest Shareholder Pledges 48 Million Shares to Raise 400 Million Yuan for Increased Holdings, Simultaneously Releases Equivalent Pledged Shares

Binzhou Chemical Group Co., Ltd. (Stock Code: 601678,简称 “Binzhou Chemical”) announced on March 17 that its largest shareholder, Binzhou Heyi Industrial Investment Partnership (Limited Partnership) (简称 “Heyi Investment”), pledged 48 million shares on March 4, and simultaneously解除了相同数量股份的质押. The 400 million yuan raised from this pledge will be fully used to increase holdings in the company. After the pledge and解除, Heyi Investment’s total pledged shares account for 33.82% of its total shareholding.

The announcement shows that Heyi Investment pledged 48 million unrestricted circulating shares to China Construction Bank Corporation Binzhou Bincheng Branch, with the pledge starting on March 4, 2026. The actual解除 of the pledge will be based on the registration of the解除. The 400 million yuan financing from this pledge will be specifically used to increase holdings in Binzhou Chemical, consistent with the company’s previous disclosed plan.

Heyi Investment also提前解除了 48 million shares of pledge on the same date, March 4, 2026. After this pledge and解除, its shareholding remains at 212,863,282 shares, still accounting for 10.35% of the company’s total equity.

As of the disclosure date, Heyi Investment’s total pledged shares amount to 72 million shares, detailed as follows:

The announcement also disclosed that within the next six months, Heyi Investment has 24 million pledged shares due, accounting for 11.27% of its holdings and 1.17% of the total company shares, with a financing balance of 45.5427 million yuan. The company stated that Heyi Investment has strong repayment capacity, mainly from dividends, investment income, capital increases, etc. This pledge will not affect the company’s main business, financing credit, or ongoing operations, nor will it impact the stability of the company’s control or equity structure.

It is understood that Heyi Investment previously disclosed a plan to increase holdings. The current pledge financing is used to increase the company’s shares, demonstrating confidence in the company’s future development. The company’s board emphasized that this pledge does not involve guarantees for major asset restructuring or performance compensation, nor does it involve non-operational capital occupation or illegal guarantees that harm the interests of the listed company.

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Editor: Xiao Lang Kuai Bao