According to Baiao Chemical's announcement, Guangyao Zhixin, a shareholder holding more than 5% of the company's shares, holds 182 million shares of the company, accounting for 25.83% of the total share capital. As of the announcement date, it had accumulated 37.59 million frozen shares, accounting for 20.61% of its total shareholding and 5.32% of the company's total share capital. The reason for the freeze was property preservation, and the freeze commencement date ranged from April 13 to July 17, 2026. Guangyao is a non-controlling shareholder or actual controller. The stock freeze will not cause a change in the company's actual control rights, nor will it have a significant impact on operations.

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