PRCO(SZ:002225) Shang Hai Zheng Quan Bao·2025-11-03 20:28Core Viewpoint - The announcement details the recent stock pledge activities of Liu Baikuan, the major shareholder of Puyang Pina High Temperature Materials (Group) Co., Ltd, including the release of pledged shares and the extension of stock pledge transactions for personal funding needs [1][6]. Group 1: Stock Pledge Release - Liu Baikuan released a total of 23,500,000 shares, consisting of 17,500,000 locked shares (1.51% of total shares) and 6,000,000 freely tradable shares (0.52% of total shares) [1]. - The release of the pledged shares was completed on October 31, 2025, at the Shenzhen branch of China Securities Depository and Clearing Co., Ltd [1]. Group 2: Current Pledge Situation - As of the announcement date, Liu Baikuan and his family hold a total of 248,665,217 shares, representing 21.45% of the company's total shares, with a cumulative pledge of 72,300,000 shares (6.24% of total shares) [3][8]. - The pledged shares account for 29.08% of the shares held by Liu Baikuan and his family [3][8]. Group 3: Future Pledge Obligations - There are no shares due for pledge expiration in the next six months, while 72,300,000 shares (6.24% of total shares) are due within the next year, corresponding to a financing balance of 12.4 million yuan [3][9]. - The funds from the pledged shares are solely for personal funding needs, and the company believes that the risk can be managed through rolling repayments and dividends [3][9]. Group 4: Impact on Company Operations - The stock pledge activities are not expected to have any substantial impact on the company's operations, governance, or performance obligations [4][10]. - Liu Baikuan and Liu Baichun are noted to have good credit status, and there is currently no risk of forced liquidation of the pledged shares [4][10].