Bai'ao Chemical: Controlling shareholder Tongyun Investment releases pledge of 28 million shares.

Bai'ao Chemical announced that its controlling shareholder Tongyun Investment has released the pledge of 28 million shares on December 16, 2025, accounting for 3.96% of the company's total share capital. After the release of the pledge, Tongyun Investment has a total of 20.16 million pledged shares, accounting for 9.53% of its total holdings in the company and 2.85% of the company's total share capital.