Group 1 - The core point of the announcement is that the controlling shareholder, Kaishan Holding Group Co., Ltd., has completed the repayment and delisting of the non-publicly issued exchangeable bonds, which were issued on July 7, 2022, with a total issuance size of 500 million yuan and a term of 3 years [1][2] - The exchangeable bonds, referred to as "22 Kaishan EB," had a maturity date of July 6, 2025, and the principal and interest were fully paid on July 7, 2025 [1][2] - To protect the interests of bondholders, Kaishan Holding pledged 85 million shares of its freely tradable stock as collateral for the bonds, which will now be released following the completion of the bond repayment [2] Group 2 - Following the completion of the bond repayment, Kaishan Holding will apply to the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, to lift the pledge on the remaining shares, totaling 81,559,375 shares [2] - The release of the pledged shares will occur after the automatic release of 3,440,625 shares due to the exchange during the bond's exchange period [2] - The company will monitor the completion of the share pledge release and fulfill its information disclosure obligations in a timely manner [2]