KingShine announced that the company's controlling shareholder, Zheng Xiaorong, pledged 18.05 million shares, accounting for 28.99% of her holdings and 4.35% of the company's total share capital. Tan Dong pledged 1 million shares, accounting for 2.08% of his holdings and 0.24% of the company's total share capital. KingShine Capital pledged 18.39 million shares, accounting for 99.96% of its holdings and 4.43% of the company's total share capital. The total pledged shares amount to 37.44 million, accounting for 9.03% of the company's total share capital. The pledge start date is June 17, 2025, with the pledgee being Bohai International Trust Co., Ltd., for the purpose of providing guarantees for related parties