Xueqi Electric's shareholder Zhidao Investment releases 5 million shares from pledge, accounting for 2.73% of the total share capital.

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Hefei Xueqi Electrical Co., Ltd. (Stock code: 001387, Stock abbreviation: Xueqi Electrical) released an announcement on March 25 stating that Anhui Zhidao Investment Co., Ltd. (hereinafter referred to as “Zhidao Investment”), a shareholder holding more than 5% of the company’s shares, has completed certain procedures for解除质押 (the release of pledge) of shares. The number of shares released from pledge this time is 5 million shares, accounting for 18.49% of the total number of shares held by Zhidao Investment and 2.73% of the company’s total share capital.

The announcement shows that the pledge registration date of this portion of shares was August 21, 2025, the date for releasing the pledge was March 23, 2026, and the pledgee is Shenzhen Zhongxiao Dan Financial Lending Co., Ltd.

As of March 24, 2026, Zhidao Investment holds 27.0451 million shares of Xueqi Electrical, accounting for 14.78% of the company’s total share capital. After this pledge release, the cumulative number of pledged shares decreased from 22.82 million shares to 17.82 million shares; the proportion of shares pledged as a share of its holdings decreased from 84.38% to 65.89%, and the proportion of pledged shares as a share of the company’s total share capital is 9.74%. The announcement also states that among the pledged shares, there are no situations involving share lock-up, freezing, or marking; the unpledged shares also have no related restrictions.

It is worth noting that Zhidao Investment is still within the period for implementing a share reduction plan. The company disclosed on January 22, 2026, that Zhidao Investment plans to reduce its holdings by no more than 5.4909 million shares (representing 3% of the company’s total share capital) between February 12, 2026 and May 11, 2026, by means of centralized bidding and block trades. As of March 24, the share reduction plan has not yet been fully implemented.

In its announcement, Xueqi Electrical emphasized that Zhidao Investment’s credit standing is currently good, and it has the corresponding ability to repay. There is no risk of liquidation or forced transfer of title for the shares whose pledge has been released. This release of shares from pledge will not have any material impact on the company’s production and operations or governance structure. The company will continue to monitor changes in shareholders’ rights and interests and will strictly comply with its information disclosure obligations in accordance with relevant laws and regulations.

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