Jinrui Mining Controlling Shareholder Lifts Pledge on 74.2652 Million Shares, Accounting for 25.77% of Total Share Capital

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This report Qinghai Jinnui Mining Development Co., Ltd. (Stock Code: 600714, Stock Abbreviation: Jinnui Mining) announced on March 19 that the company’s controlling shareholder, Qinghai Investment Group Co., Ltd. (hereinafter referred to as “Qinghai Investment”), has completed the release of some pledged shares, involving 74,265,241 shares, accounting for 85.94% of its holdings and 25.77% of the company’s total share capital.

The announcement shows that the pledged shares released by Qinghai Investment originate from a pledge transaction in 2017. At that time, it pledged 74,265,241 unrestricted circulating shares to Zhongcheng Trust Co., Ltd. In 2022, according to the “Reorganization Plan of Qinghai Investment Group Co., Ltd. and Seventeen Other Enterprises” and the “Debt Retention Agreement,” the pledgee of these shares was changed to Jining Bank Co., Ltd., with the main debt repayment period extended to 8 years (from December 25, 2021, to December 26, 2029). On March 17, 2026, the pledged shares were deregistered with the China Securities Depository and Clearing Corporation Limited.

As of the disclosure date of this announcement, Qinghai Investment held a total of 86.4185 million shares of Jinnui Mining, accounting for 29.99% of the company’s total share capital. After the pledge release, the remaining pledged shares are 12.1533 million, accounting for 14.06% of its holdings and 4.22% of the total share capital. The announcement also states that Qinghai Investment will decide whether to use the released pledged shares for subsequent pledge financing based on its own financial arrangements.

Jinnui Mining stated that the company will continue to monitor the pledge status of its controlling shareholder’s shares and fulfill its information disclosure obligations in a timely manner according to relevant regulations. The large-scale pledge release may indicate that the controlling shareholder’s funding pressure has eased, which is positive for the stability of the company’s equity structure.

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