NEWAY's controlling shareholder Cheng Zhangwen has partially lifted the pledge on his shares

Suzhou NEWAY Valve Co., Ltd. announced that as of the announcement date, the total share capital of the company is 775,526,127 shares, with the controlling shareholders holding a total of 486,259,648 shares, accounting for 62.70%. On October 16, Cheng Zhangwen released the pledge of 6.5 million shares, which accounts for 5.35% of his holdings and 0.84% of the company's total share capital. After the release, the cumulative pledge is 0. Currently, the controlling shareholders and their concerted parties have a cumulative pledge of 9.25 million shares, accounting for 1.90%. Within the next year, only the 9.25 million shares pledged by Xi Chao will mature, corresponding to a financing balance of 100 million. The controlling shareholders have good creditworthiness, and the pledge risk is controllable, which will not affect the company's operation, governance, and control rights