Kings' controlling shareholder partially pledged and released shares

On September 10, 2025, Kings announced that its controlling shareholder, Kings Industry, recently pledged 30 million shares to CITIC Securities Co., Ltd. for financing to repay pledged debts, with the pledge period ending on September 8, 2026; at the same time, it released a previous pledge of 42.42 million shares. After this pledge and release, Kings Industry has cumulatively pledged 89.84 million shares of the company, accounting for 21.35% of its total holdings and 10.67% of the company's total share capital. Kings Industry and its concerted parties hold a total of 460 million shares, accounting for 54.69% of the total share capital, with a cumulative pledge of 89.84 million shares, accounting for 19.52% of its total holdings and 10.67% of the total share capital. This pledge does not affect the company's control, and Kings Industry has good creditworthiness and repayment ability