Dechuang Environmental Protection controlling shareholder Deneng Holdings pledges 19.85 million shares, accounting for 9.72% of total share capital

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On March 14, Zhejiang Dechuang Environmental Protection Technology Co., Ltd. (Stock Code: 603177, Stock Abbreviation: Dechuang Environmental Protection) announced that its controlling shareholder, Zhejiang Dene Industry Holding Group Co., Ltd. (hereinafter referred to as “Dene Holding”), pledged 19.85 million tradable shares to Shaoxing Hengxin Rural Commercial Bank Co., Ltd., Mashan Branch, on March 13, and has completed the pledge registration procedures.

The announcement shows that this pledge accounts for 9.72% of the company’s total share capital and 22.57% of Dene Holding’s holdings in the company. The pledged shares are mainly used to meet the operational needs of Dene Holding and its affiliated companies, with details as follows:

As of the disclosure date, Dene Holding held 87,947,500 shares of Dechuang Environmental Protection, accounting for 43.07% of the company’s total share capital; the total pledged shares amounted to 6,055,000 shares, representing 29.65% of the company’s total share capital and 68.85% of its holdings in the company.

Dene Holding and its concerted actors Shaoxing Dexin Enterprise Management Co., Ltd., and Hong Kong Rongzhi Group Co., Ltd. collectively hold 119,334,000 shares, accounting for 58.44% of the total share capital; the total pledged shares are 6,055,000, representing 29.65% of the total share capital and 50.74% of their holdings. The specific pledge details are as follows:

The announcement also discloses that the pledged financing by controlling shareholder Dene Holding is unrelated to the company’s production and operation needs. The funds are used to meet Dene Holding’s own operations and related companies’ needs, with repayment sources from self-raised funds or internal funds.

Regarding future pledge maturities, starting from March 13, the total pledged shares due within the next six months by the controlling shareholder and its concerted actors amount to 22.5 million shares, representing 18.85% of their holdings and 11.02% of the company’s total share capital, with a financing balance of 96.5 million yuan; within the next year, the total pledged shares due (excluding those due within the next six months) amount to 24.85 million shares, representing 20.82% of their holdings and 12.17% of the company’s total share capital, with a financing balance of 126.5 million yuan.

Dechuang Environmental Protection states that as of the disclosure date, the credit status and financial condition of the company’s controlling shareholder and its concerted actors are good, with sufficient repayment capacity and risk control ability. The pledged shares do not pose a risk of forced liquidation or transfer. Additionally, the controlling shareholder and its concerted actors do not have non-operational capital occupation or illegal guarantees that harm the company’s interests. This pledge does not affect the company’s production, operation, or governance. The company will continue to monitor the pledge situation and disclose relevant information in a timely manner.

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