On December 9, Gelonghui reported that chinasinostar (00485.HK) announced that the company has been informed by Dayrong that Lushan Investment pledged 0.109 billion shares of the company to Hong Kong Prince Mountain Limited on December 5, 2024 (equivalent to approximately 51.02% of the company's issued share capital as of the date of this announcement).

The company was informed by Prince Mountain that on December 5, 2024, Prince Mountain acquired 37.3 million shares from Lushan Investment (equivalent to approximately 17.53% of the company's issued share capital as of the date of this announcement).

Prince Mountain is a company registered in Hong Kong and is wholly owned by liaoning Prince Mountain Hot Spring Resort Development Co., Ltd., a company registered in china. Mr. Zou Xinyu and Ms. Zhang Dandan (who is Mr. Zou Xinyu's spouse) hold 67% and 33% interests in liaoning Prince Mountain, respectively. As of the date of this announcement, (i) Prince Mountain owns 37,304,347 shares and holds a pledged interest in 108,591,364 shares, and (ii) Mr. Zou Xinyu owns 900,000 shares.