Hongxin Electronics: Controlling shareholder's 4.2 million shares have been released from pledge.

Hongxin Electronics announced that its controlling shareholder, Hongxin Entrepreneurship, has recently completed the procedures to release the pledge of 4.2 million shares of the company, accounting for 4.99% of its held shares and 0.87% of the company's total share capital. The pledgee is Shanghai Zhangjiang Technology Microcredit Co., Ltd. As of now, Hongxin Entrepreneurship has pledged a total of 19.45 million shares, accounting for 23.10% of its held shares and 4.03% of the company's total share capital. The pledged shares do not face the risk of forced liquidation, and will not affect the company's production, operation, governance, or result in a change in control.