三房巷：控股股东部分股份解除质押及再质押，累计质押46.37%

Core Points - The announcement from Sanfangxiang indicates that its controlling shareholder, Sanfangxiang Group, has partially released and re-pledged shares recently [1] - On November 19, 2025, Sanfangxiang Group released the pledge of 55 million shares to China Merchants Bank Wuxi Branch, which accounts for 1.85% of its holdings and 1.41% of the total share capital [1] - On the same day, the group pledged an additional 13 million unrestricted circulating shares to the same bank, representing 0.44% of its holdings and 0.33% of the total share capital [1] - After these changes, Sanfangxiang Group has a total of 1.807 billion pledged shares, which is 60.90% of its holdings and 46.37% of the total share capital [1] - The financing balances corresponding to the pledged shares due in the next six months and one year are 100 million yuan and 954 million yuan, respectively, indicating that the pledge risk is manageable [1]