XSS(SH:600117) Shang Hai Zheng Quan Bao·2025-11-04 19:47Core Viewpoint - The announcement details the pledge of shares by the controlling shareholder of Xining Special Steel Co., Ltd. to support the company's operational needs and secure a loan from Bohai Bank Tianjin Branch for a total of RMB 300 million [2][4]. Summary by Sections Share Pledge Details - The controlling shareholder, Tianjin Jianlong Steel Industry Co., Ltd., holds 975,144,766 shares, representing 29.96% of the total share capital of Xining Special Steel [2]. - A total of 50,239,703 shares have been pledged to secure a loan, with the cumulative pledged shares amounting to 674,274,835, which is 69.15% of the shares held by Tianjin Jianlong and 20.71% of the total share capital [2]. Impact on the Company - The share pledge is intended to support the company's production and operational needs and will not adversely affect the company's main business, financing credit, or ongoing operational capabilities [4]. - The pledge will not impact the appointment of directors by shareholders, the company's independence, or the stability of control and management [5]. Financial Health and Risk Management - Tianjin Jianlong's financial status is reported to be sound, with manageable pledge risks and no substantial repayment risks identified [5]. - In the event of a margin call, Tianjin Jianlong plans to take measures such as additional pledges or early repayments to mitigate risks [5].