Summary by Futu AI
Chongqing Hongqiu Fruit Products Co., Ltd. (“Hongqiu Fruit Products”) announced on 20 May 2024 that Mr. Tang Hongqiu, the Company's Holding Shareholder, Chairman and Executive Director, has pledged 5,650,000 shares of its equity stake, representing approximately 1.50% of its total direct shareholding, to Pupa Silicon Valley Bank Limited as a provider to the Company Guaranteed financing loan of RMB 44,000,000. The pledged shares account for approximately 9.78% of the total issued shares of Hung Ku Fruit. Uraba Silicon Valley Bank is an independent third party for Hung Ku Fruit Products and its affiliates. The announcement of the subordinated shares follows a series of announcements made by the Company between April and May 2024.