Core Viewpoint - The announcement details the share pledge and release situation of Greenland Holdings, highlighting significant shareholding and pledge ratios of its major shareholder, Shanghai Greenland Investment Enterprise (Limited Partnership) [2][3][4]. Shareholding and Pledge Details - The largest shareholder, Shanghai Greenland Investment, holds 3,637,698,287 shares, accounting for 25.88% of the total share capital. After the recent pledge and release, the total pledged shares amount to 3,610,923,286, representing 99.26% of its holdings [2][3]. - On November 7, 2025, the shareholder released 93,706,250 shares and 427,350,000 shares from pledge, while simultaneously pledging 521,056,250 shares to China Cinda Asset Management [2][3]. Future Pledge Expiry and Financing - Within the next six months, 1,040,000,000 shares will mature, which is 28.59% of the shareholder's holdings and 7.40% of the total share capital, with a corresponding financing balance of 3.022 billion yuan. For the next year, 946,367,036 shares will mature, representing 26.02% of the shareholder's holdings and 6.73% of the total share capital, with a financing balance of 3 billion yuan [3][4]. - The pledged shares are used as collateral for financing, and the company plans to enhance liquidity management to repay the maturing loans through self-owned or raised funds [3][5]. Company Governance and Risk Management - The shareholder does not engage in non-operational fund occupation, illegal guarantees, or related transactions that could harm the company's interests. The current pledge situation will not affect the company's main business, financing arrangements, or operational capabilities [4][11]. - The company and the shareholder will strengthen liquidity management and monitor stock price trends to mitigate potential risks associated with share pledges [11][13].