Stock Code: 002175 Stock Abbreviation: *ST Dongzhi Announcement No.: 2026-035
Guangxi Dongfang Smart Technology Co., Ltd.
Announcement on the Release of Pledge and Re-pledge of Part of the Shares by the Controlling Shareholder and Progress of the Transfer of Control
The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and that there are no false records, misleading statements, or material omissions.
Special Risk Warning:
The total number of shares pledged by the controlling shareholder Kehsiang High-tech Development Co., Ltd. (hereinafter referred to as "Kehsiang High-tech") accounts for over 80% of the shares it holds in the Company. Investors are advised to pay attention to related risks. This release and re-pledge of shares is in accordance with the provisions of the "Share Transfer Agreement" related to the planned change of control of the Company and does not involve new financing.
Guangxi Dongfang Smart Technology Co., Ltd. (hereinafter referred to as the "Company") recently received a notice from its controlling shareholder Kehsiang High-tech, stating that a portion of its shares in the Company has been released from pledge and re-pledged. This matter is being implemented by Kehsiang High-tech to fulfill the relevant agreements in the "Share Transfer Agreement" signed with Ningxia Dongtai Energy Group Co., Ltd. (hereinafter referred to as "Dongtai Energy"). The details are as follows:
I. Details of the Release of Pledge
| Shareholder Name | Whether it is the Controlling Shareholder or the First Largest Shareholder and their Concerted Parties | Number of Shares Released from Pledge (shares) | Proportion of Shares Held by the Shareholder | Proportion of Total Share Capital | Pledge Start Date | Pledge Release Date | Pledgee/Applicant |
|---|---|---|---|---|---|---|---|
| Kehsiang High-tech | Yes | 3,500,000 | 1.43% | 0.27% | April 8, 2026 | July 2, 2026 | Nantong Zhongtou Investment Guarantee Co., Ltd. |
| Total | 3,500,000 | 1.43% | 0.27% |
II. Details of Shares Pledged by Shareholders
(I) Details of Shares Pledged by Shareholders in this Transaction
- Details of Shares Pledged by Shareholders in this Transaction
| Shareholder Name | Whether it is the Controlling Shareholder or the First Largest Shareholder and their Concerted Parties | Number of Shares Pledged (shares) | Proportion of Shares Held by the Shareholder | Proportion of Total Share Capital | Whether it is Restricted Shares | Whether it is for Supplementary Pledge | Pledge Start Date | Pledge Expiration Date | Pledgee | Pledge Purpose |
|---|---|---|---|---|---|---|---|---|---|---|
| Kehsiang High-tech | Yes | 3,500,000 | 1.43% | 0.27% | No | No | July 2, 2026 | Until the date of registration of pledge release | Ningxia Dongtai Energy Group Co., Ltd. | Fulfillment of Share Transfer Agreement |
| Total | 3,500,000 | 1.43% | 0.27% | / | / | / | / | / | / |
The pledged shares are not related to major asset restructuring or performance commitment share compensation obligations.
- Cumulative Pledged Shares by Shareholders
As of the disclosure date of this announcement, the pledged shares held by Kehsiang High-tech are as follows:
| Shareholder Name | Number of Shares Held (shares) | Proportion of Shares Held | Number of Shares Pledged Before This Change (shares) | Number of Shares Pledged After This Change (shares) | Proportion of Shares Held by the Shareholder | Proportion of Total Share Capital | Pledged Shares: Restricted and Frozen, Marked (shares) | Proportion of Pledged Shares | Unpledged Shares: Restricted and Frozen (shares) | Proportion of Unpledged Shares |
|---|---|---|---|---|---|---|---|---|---|---|
| Kehsiang High-tech | 245,210,042 | 19.21% | 224,000,000 | 224,000,000 | 91.35% | 17.54% | 32,000,000 | 14.29% | 21,210,042 | 100% |
| Total | 245,210,042 | 19.21% | 224,000,000 | 224,000,000 | 91.35% | 17.54% | 32,000,000 | 14.29% | 21,210,042 | 100% |