Tianyang New Material's controlling shareholder, Bairui Xingyang, has pledged 12.98 million shares, representing 18.35% of its holdings and 3.00% of the company's total share capital. Following this pledge, Bairui Xingyang has cumulatively pledged 21,633,683 shares, accounting for 30.58% of its holdings and 5.00% of the company's total share capital. Bairui Xingyang and its concert party, Weichuang Jiaze, together hold 21.35% of the company's total share capital, with cumulative pledged shares representing 46.84% of their combined holdings and 10.00% of the company's total share capital. The company stated that the pledge risk is controllable, and if margin call risks arise, it will take measures such as supplementary pledges to address them. Tianyang New Material has reported consecutive annual losses in recent years, with net losses of 56.59 million yuan, 94.21 million yuan, 213 million yuan, and 244 million yuan from 2022 to 2025 respectively. However, the company has halted its photovoltaic encapsulation film business to stem losses and expects to turn profitable in the first half of 2026.
Tianyang Hot MelControlling shareholder pledges additional shares, cumulative pledge exceeds 30% of holdings, indicating potential financial strain.
As the controlling shareholder, Bairui Xingyang's increased pledge raises concerns about its financial health and potential margin call risks.
