JL MAG: Controlling Shareholder Releases 25.00 Million Pledged Shares, Cuts Pledge Ratio to 5.17%

Bulletin Express04-29 22:23

JL MAG Rare-Earth Co., Ltd. announced on 29 April 2026 that controlling shareholder Jiangxi Ruide Enterprise Management Co., Ltd. has released 25.00 million previously pledged shares. The pledge, established on 19 December 2024 with the Ganzhou Branch of China Merchants Bank and originally set to expire on 28 April 2026, represented 6.46% of Jiangxi Ruide’s shareholding and 1.82% of JL MAG’s total share capital.

Following the release, Jiangxi Ruide now has 20.00 million shares under pledge, equivalent to 5.17% of its 387.10 million-share holding and 1.45% of the company’s overall share capital.

Aggregating all parties acting in concert—including Jiangxi Ruide, Rui De (Hong Kong) Limited, Ganzhou Geshuo Investment Management Center and Ganzhou Xinsheng Investment Management Center—the controlling shareholder group holds 428.44 million shares, or 31.15% of the company. Post-transaction, 29.80 million of those shares remain pledged, accounting for 6.96% of the group’s aggregate holdings and 2.17% of JL MAG’s total share capital.

The company stated that no pledged shares are frozen or subject to auction, and the reduced pledge level does not affect the group’s de facto control, operations, or corporate governance.

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