Jiangsu Changshu Aluminum Group announced that its controlling shareholder, Qilu Finance Investment Group, had 6.5 million shares released from a judicial freeze on July 28, 2026. The applicant was the Laiwu branch of Bank of Communications. These shares account for 2.1049 percent of Qilu Finance's holdings and 0.6294 percent of the company's total share capital. As of the announcement date, Qilu Finance holds 308.8 million shares, representing 29.90 percent of total share capital. Its cumulative frozen shares stand at 116.68 million, and cumulative pledged shares at 154.4 million, for a combined total of 271.08 million shares frozen or pledged. This represents 87.7859 percent of its holdings and 26.2480 percent of the company's total share capital. The company notes that the controlling shareholder's cumulative pledged and judicially frozen shares exceed 80 percent of its holdings, and reminds investors to be aware of the associated risks.
Jiangsu Alcha Aluminium Co LtdControlling shareholder still has 87.8% of holdings frozen or pledged, indicating financial distress and risk for the company.
Bank of Communications CoQilu Finance, as controlling shareholder, has most of its shares frozen/pledged, signaling financial strain.