Kingking(SZ:002094) Shang Hai Zheng Quan Bao·2025-09-11 20:41Core Viewpoint - The announcement details the pledge and release of shares by the controlling shareholder of Qingdao Kingwang Chemical Co., Ltd., indicating ongoing financial arrangements and the company's current financial health [3][4][5]. Group 1: Share Pledge Details - The controlling shareholder, Qingdao Kingwang International Transportation Co., Ltd., pledged 25.5 million shares (3.6909% of total shares) to Agricultural Bank of China for loan guarantees [3][4]. - The release of the pledged shares occurred in two phases on September 10 and 11, 2025, with the same number of shares being re-pledged for new loan guarantees [3][4]. - After the new pledges, the total pledged shares by the controlling shareholder amount to 134,274,499 shares, representing 19.4348% of the total shares and 90.7884% of the shares held by the controlling shareholder [4]. Group 2: Financial Health of Controlling Shareholder - As of December 31, 2024, Qingdao Kingwang International Transportation Co., Ltd. reported total assets of 50.28 million yuan and a debt ratio of 9.99% [8]. - For the first quarter of 2025, the company had total assets of 50.08 million yuan, with a net profit of -18.24 thousand yuan [8][10]. - The company has no upcoming share pledges maturing in the next six months and a total of 11.9 million shares maturing in the next year, which is 8.0461% of its total shares [5]. Group 3: Financial Arrangements and Risks - The pledged financing is not intended for the company's operational needs, and the controlling shareholder has sufficient repayment capacity from self-owned or raised funds [5][11]. - The controlling shareholder has no history of significant debt defaults or credit downgrades, indicating good creditworthiness and access to financing [11]. - The share pledges will not affect the company's operations or governance significantly, and there are no risks of changing the actual controller [7][13].