03768.HK announced that its controlling shareholder, Kunming Dianchi Investment Co., Ltd., will pledge no more than 198 million domestic shares, equivalent to 30% of its shareholding in the company, to the branch of Kunming Dianchi National Tourism Resort on October 24, 2022. As a lender to provide the company with a total loan financing of RMB 200 million pledge. On the date of the announcement, the pledged shares accounted for about 19.25% of the total number of issued shares of the company. As at the date of the announcement, Kunming Dianchi Investment held about 64.16% of the issued shares of the company. The pledged shares are expected to be waived and cancelled after the financing loan has been repaid in full.