Core Points - The controlling shareholder of Guangqi Technology, Tibet Yingbang Industrial Development Co., Ltd., has transferred 107,729,394 shares, representing 5.00% of the total share capital, to Zhuzhou Supermaterial Investment Development Partnership (Limited Partnership) for a total consideration of RMB 1.85 billion to resolve debt issues and optimize the equity structure [2][3][9] - The share transfer was completed on August 29, 2025, and Zhuzhou Supermaterial has committed not to reduce its holdings for 36 months post-transfer [3][4] - Following the transfer, Tibet Yingbang's shareholding decreased from 36.00% to 30.00%, and the company aims to reduce its share pledge ratio, which currently stands at 98.13% [7][9] Summary of Transfer Details - The share transfer agreement was signed on September 23, 2024, and the funds will be used to repay debts and cover related taxes [2] - The transfer complies with relevant laws and regulations, ensuring no change in the controlling shareholder or actual controller, and does not harm the interests of minority shareholders [4][9] - The transfer is part of a broader strategy to introduce strategic investors and improve the company's financial health [7][9] Shareholding Changes - Prior to the transfer, Tibet Yingbang held 775,661,652 shares, and after the transfer, it holds 646,376,353 shares [7][9] - Additionally, Tibet Yingbang reduced its holdings by 21,555,905 shares through block trading from August 27 to September 1, 2025, further decreasing its stake [7][9] Future Implications - The company expects that the reduction in share pledge ratio will attract more institutional investors and promote sustainable development [9] - The overall goal is to maintain national security, ensure military supply, and stabilize the company's equity structure [9]