HCET's controlling shareholder partially lifted the pledge on shares, and the risk is controllable

Recently, Holley Technology Ltd. announced that its controlling shareholder, Xusheng Asia Investment Co., Ltd., has lifted the pledge on part of its shares in the company. A total of 11,570,000 shares have been released from pledge, accounting for 25.79% of its held shares and 6.32% of the company's total share capital. As of the announcement date, Xusheng Investment and its concerted actor Tang Qiqing have pledged a total of 35,860,000 shares, accounting for 65.35% of their total holdings and 19.60% of the company's total share capital. Currently, the risk of pledged shares is controllable and will not affect the company's production and operations. The company will continue to monitor and disclose relevant information in a timely manner