According to Baiao Chemical's announcement, Guangyao Zhixin, a shareholder holding more than 5% of the shares, pledged 32 million shares of the company to China Communications Trust Co., Ltd. on December 30, 2025, accounting for 17.54% of its total shareholding and 4.53% of the company's total share capital. The maturity date of the guarantor's claim is December 31, 2027, and the pledged funds are used to guarantee third-party financing. As of the announcement date, Guangyao Zhixin held 182 million shares of the company, accounting for 25.83% of the total share capital, and pledged 139 million shares, accounting for 76.02% of its total holdings and 19.64% of the company's total share capital.

According to Baiao Chemical's announcement, Guangyao Zhixin, a shareholder holding more than 5% of the shares, pledged 32 million shares of the company to China Communications Trust Co., Ltd. on December 30, 2025, accounting for 17.54% of its total shareholding and 4.53% of the company's total share capital. The maturity date of the guarantor's claim is December 31, 2027, and the pledged funds are used to guarantee third-party financing. As of the announcement date, Guangyao Zhixin held 182 million shares of the company, accounting for 25.83% of the total share capital, and pledged 139 million shares, accounting for 76.02% of its total holdings and 19.64% of the company's total share capital.