Summary by Futu AI
BYADI CO., LTD. ANNOUNCED ON MAY 21, 2024 THAT MR. LU XIANGYANG, A SHAREHOLDER HOLDING MORE THAN 5%, HAS PLACED A PLEDGE ON SOME OF HIS SHARES TO MEET OPERATING REQUIREMENTS. The subordinated share is 1,150,000 shares, representing 0.04% of the total share capital of the company. As of the date of the announcement, Lu Xingyang and his unitary shareholder, Rongje Investment Holdings Group Limited, had a cumulative stake of 84,375,498 shares, representing 2.90% of the total share capital of the Company. The Company confirms that there is no risk of forced closing of the currently pledged shares and that there will be no material impact on the Company's production operations and governance. BYD WILL DISCLOSE INFORMATION ON SUBSEQUENT STOCK HOLDINGS IN ACCORDANCE WITH RELEVANT LAWS AND REGULATIONS.