Tongde Chemical: Controlling Shareholder Zhang Yunsheng's 1.53% Company Shares Frozen

Tongde Chemical announced that the 6.15 million shares held by the controlling shareholder and actual controller Zhang Yunsheng were judicially frozen, accounting for 7.68% of his total holdings and 1.53% of the company's total share capital. This share freeze was due to the company's failure to repay its debt to the Taiyuan Pingyang Road Branch of China Merchants Bank Limited by Zhang Yunsheng as a guarantor. The company is actively communicating with China Merchants Bank to resolve the overdue debt issue, and this freeze will not result in a change in control of the company or have a significant impact on the company's ongoing operations and corporate governance.