Baiao Chemical announced that Tongyun Investment, the controlling shareholder of the company, lifted the pledge of 28 million shares on December 16, 2025, accounting for 3.96% of the company's total share capital. After the pledge was lifted, Express Investment's cumulative number of pledged shares was 2016 million shares, accounting for 9.53% of the total number of shares held in the company and 2.85% of the company's total share capital.

Baiao Chemical announced that Tongyun Investment, the controlling shareholder of the company, lifted the pledge of 28 million shares on December 16, 2025, accounting for 3.96% of the company's total share capital. After the pledge was lifted, Express Investment's cumulative number of pledged shares was 2016 million shares, accounting for 9.53% of the total number of shares held in the company and 2.85% of the company's total share capital.