Zhongji Innolight Co., Ltd. (SZSE: 300308) has disclosed that its actual controller, Wang Weixiu, recently pledged a portion of his holdings in separate transactions with China Merchants Securities and Huatai Securities (Shanghai) Asset Management, intended to secure debt obligations.
According to the company announcement, the total number of pledged shares amounts to 728,000, with a pledge term of one year. Specifically, 553,000 shares were pledged to China Merchants Securities, representing 0.79% of Wang's personal holdings and 0.05% of the company's total share capital. An additional 175,000 shares were pledged to Huatai Securities, accounting for 0.25% of his personal stake and 0.06% of the total shares outstanding.
As of September 1, 2026, the shareholding structure shows Zhongji Holding controlling 10.31% of the company, with Wang Weixiu holding 5.92% and Wang Xiaodong owning 0.18%. The three parties, acting in concert, collectively control 16.41% of the company's equity. Based on Tuesday's closing price of 822.4 yuan per share, which values the company at approximately 968.7 billion yuan, the pledged shares hold an estimated market value of around 600 million yuan.
The pledge comes at a time when the Wang family has recently realized substantial gains. On July 30, 2026, the company announced that its controlling shareholder, Shandong Zhongji Investment Holding Co., Ltd., along with concert parties Wang Weixiu and Wang Xiaodong, had reduced their combined stake by 1.46 percentage points. The group collectively sold 6,208,552 A-shares during this period, with Zhongji Holding disposing of 5.5 million shares and Wang Xiaodong selling 708,600 shares. At current price levels, which are relatively low, these transactions are estimated to have generated over 4.5 billion yuan for Zhongji Holding and roughly 600 million yuan for Wang Xiaodong, bringing the family's total cash-out to more than 5 billion yuan.
This latest financial activity follows the company's recent Hong Kong listing. On July 20, 2026, Zhongji Innolight went public on the Hong Kong Stock Exchange with an offer price of 980 Hong Kong dollars per share, raising gross proceeds of 53.4 billion HKD. After deducting listing expenses of 519 million yuan, the net proceeds amounted to 52.89 billion yuan. The listing attracted 29 cornerstone investors who subscribed for a combined 34.5 billion U.S. dollars (approximately 27 billion HKD), including major commitments from Temasek, Hillhouse Capital's HHLR, JPMorgan Asset Management, BlackRock, and Yunfeng Capital, among others.
The company's operational performance remains robust. For the first half of 2026, Zhongji Innolight Co., Ltd. reported revenue of 41.78 billion yuan, representing a 182% increase from the 14.79 billion yuan recorded in the same period last year. Net profit surged 241.70% to 13.65 billion yuan, compared to 3.99 billion yuan in the prior-year period, while non-GAAP net profit rose 229% to 13.09 billion yuan. The company has declared a cash dividend of 12 yuan (pre-tax) per 10 shares, based on a total share count of 1,169,734,641 shares, resulting in a total dividend payout of approximately 1.4 billion yuan.