Baiao Chemical announced that the controlling shareholder of the company, Tongyun Investment, pledged 17 million shares of the company's shares on September 14, 2026, accounting for 8.03% of its shares and 2.41% of the company's total share capital. The pledge was National Trust Co., Ltd., and the pledged financing funds were used to supplement working capital, and the pledge period was until the pledge cancellation registration procedure was completed. Express Investment will pledge 82.46 million shares within one year, accounting for 38.97% of its holdings and 11.68% of the company's total share capital, with a corresponding financing balance of 423 million yuan. Express Investment has good credit and capital repayment ability. Stock pledges will not have a significant impact on the company's operation and governance.

Baiao Chemical announced that the controlling shareholder of the company, Tongyun Investment, pledged 17 million shares of the company's shares on September 14, 2026, accounting for 8.03% of its shares and 2.41% of the company's total share capital. The pledge was National Trust Co., Ltd., and the pledged financing funds were used to supplement working capital, and the pledge period was until the pledge cancellation registration procedure was completed. Express Investment will pledge 82.46 million shares within one year, accounting for 38.97% of its holdings and 11.68% of the company's total share capital, with a corresponding financing balance of 423 million yuan. Express Investment has good credit and capital repayment ability. Stock pledges will not have a significant impact on the company's operation and governance.