Mount Kuaiji: Partial release of pledged shares by controlling shareholder and re-pledging

Kuaiji Mountain announced that on March 24, the controlling shareholder China Construction Bank Zhejiang Company released a pledge of 4.22 million shares; on March 25, it pledged another 5 million shares to the Zhejiang Branch of the Bank of China for use in corporate production and operations. As of the date of the announcement, China Construction Bank Zhejiang Company holds 149 million shares of the company, accounting for 31.11% of the total share capital, with a total of 112 million shares pledged, accounting for 74.85% of its total holdings and 23.28% of the total share capital of the company. The controlling shareholder has a good credit rating, and the risk of this pledge is controllable, with no impact on the company's production, operation, governance, or control rights.