Hongfa Co., Ltd. announced that the controlling shareholder of the company, Youge Venture Capital Co., Ltd. pledged 6.15 million shares of the company to Everbright Securities Co., Ltd. on November 4, 2026, accounting for 1.91% of its shares and 0.40% of the company's total share capital. The pledged financing funds were used to supplement working capital, and the pledge maturity date was November 4, 2027. After this pledge, Youge Investment pledged a total of 39.494 million shares of the company, accounting for 12.27% of its shares and 2.55% of the company's total share capital. Qualified Investments are in good financial condition, and there is no risk of liquidation of current and cumulative pledged shares.

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