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Hoshine Silicon Industry Controlling Shareholder Pledges 1.5 Million Shares

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Hoshine Silicon Industry (SHA:603260) controlling shareholder Ningbo Hoshine Group pledged an additional 1.5 million shares to Guojin Securities for debt repayment.

The move brings Ningbo Hoshine Group's total pledged shares to 203.8 million, representing 17.24% of the company's total share capital, according to a Tuesday filing with the Shanghai bourse.

Including concert parties, the group's combined pledged shares now total 400.7 million, equivalent to 33.89% of the company.

Shares of the silicon-based materials maker were down 1% in recent trade.

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