LN Holdings: Shareholder Yin Hongwei's 129 million shares have been newly frozen in a waiting status

Lingnan Ecological Cultural Tourism announced that the company's largest shareholder, Yin Hongwei, has an additional pending freeze involving 129,462,669 shares, with a freeze period of 36 months. The executing agency is the Intermediate People's Court of Dongguan City, Guangdong Province. The reason for the freeze is that he provided guarantees for bank loans of the related enterprise, Lingnan Holdings Group. Currently, all parties are negotiating for the release of the freeze. As of the announcement date, Yin Hongwei's holdings of 267,791,617 shares have all been frozen, with a total of 1,562,268,539 shares under pending freeze. The company stated that this freeze has no significant impact on production, operations, and governance, and operations are normal; if enforced, it may lead to separate auctions, but the possibility of a change in control is small, and voting rights are not affected