Zhonglun New Materials' controlling shareholder pledges 22 million shares for financing

Radar Finance | Written by Yang Yang | Edited by Li Yihui

On February 25th, Zhonglun New Material (Stock Code: 301565) announced that its controlling shareholder, Zhonglun Technology Group Co., Ltd., pledged 22 million shares, accounting for 10.52% of Zhonglun Group’s holdings and 5.50% of the company’s current total share capital. The pledged shares are pre-IPO restricted shares, with the pledge starting date on February 24, 2026. The pledgee is Chongqing International Trust Co., Ltd., and the purpose of the pledge is for financing.

As of the disclosure date, Zhonglun Group and its concerted actors have pledged a total of 22 million shares, representing 8.09% of their holdings.

The company stated that Zhonglun Group has good creditworthiness and the ability to repay funds. There is no risk of margin calls or forced transfer of pledged shares, and this will not adversely affect the company’s actual control, production operations, or corporate governance.

According to Tianyancha, Zhonglun New Material was established on November 19, 2018, with a registered capital of 400.01 million RMB. The legal representative is Yang Qingjin, and the registered address is No. 268-1, Wengjiao Road, Haicang District, Xiamen. Its main business involves the research, production, and sales of functional BOPA films, bio-based biodegradable BOPLA films, ultra-thin BOPP films, and related materials such as Polyamide 6 (PA6).

Currently, the company’s chairman is Yang Qingjin, the secretary is Ma Binhui, with 1,130 employees, and the actual controller is Yang Qingjin.

The company has stakes in six subsidiaries, including Xiamen Changsu Industrial Co., Ltd., Fujian Changsu Industrial Co., Ltd., Zhonglun Plastics (Fujian) Co., Ltd., PT Changsu Industrial Indonesia, and Changsu (Hong Kong) Limited.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 2.297 billion yuan, 2.352 billion yuan, and 2.473 billion yuan, respectively, with year-over-year growth of 15.21%, 2.41%, and 5.14%. Net profit attributable to shareholders was 285 million yuan, 206 million yuan, and 113 million yuan, with year-over-year declines of -4.34%, -27.73%, and -45.13%. During the same period, the company’s asset-liability ratio was 46.30%, 43.98%, and 33.90%.

Regarding risks, Tianyancha data shows the company has 16 internal Tianyan risks, 18 surrounding Tianyan risks, no historical Tianyan risks, and 30 early warning Tianyan risks.