Core Viewpoint - The announcement details the extension of a stock pledge repurchase transaction by the controlling shareholder of Hangxiao Steel Structure Co., Ltd., indicating a significant portion of shares is pledged but does not involve new financing arrangements [2][3]. Group 1: Shareholding and Pledge Details - The controlling shareholder, Mr. Dan Yinmu, holds 904,713,764 shares, accounting for 38.19% of the total share capital [2]. - The cumulative number of pledged shares by Mr. Dan Yinmu, including this transaction, is 416,520,000 shares, representing 46.04% of his holdings and 17.58% of the company's total share capital [2]. Group 2: Transaction Specifics - On November 21, 2025, Mr. Dan Yinmu entered into a stock pledge repurchase transaction extension with Guotai Junan Securities Co., Ltd. [2]. - The pledged shares in this transaction are not used for major asset restructuring performance compensation or other guarantees [2]. Group 3: Financial Health and Risk Management - Mr. Dan Yinmu's credit status is reported as good, with repayment sources for the pledged financing including dividends from the listed company, investment income, and personal income, indicating a strong repayment capability [3]. - The pledge does not lead to a change in the actual control of the company, and any significant changes will be disclosed in accordance with relevant regulations [3].