一、公告要点汇总

• 持股5%以上股东——北京江河汇众企业管理合伙企业（有限合伙）（简称“江河汇众”）持有江河创建集团股份有限公司（简称“公司”）总计15,613.76万股股份，占公司总股本的13.78%。
• 截至公告披露日，江河汇众累计质押公司股份7,000万股（含本次），占其持股总数的44.83%，占公司总股本的6.18%。
• 江河汇众于2026年5月8日解除了7,000万股的股份质押，剩余被质押股份数量为2,333万股，占其持股比例14.94%，占公司总股本2.06%。
• 江河汇众于2026年5月11日新增质押4,667万股，占其所持股份的29.89%，占公司总股本的4.12%，质押融资资金用途为对外借款。
• 股东质押合计情况显示，质押融资主要来源于国泰海通证券股份有限公司，不涉及重大资产重组或业绩补偿等事项的担保。
• 江河汇众还款来源包括公司分红与投资收益等。如出现平仓风险，计划通过补充质押、提前还款等方式应对。

二、对股东的重要影响及潜在股价影响因素

• 高比例质押风险： 江河汇众当前质押比例较高，质押股份总数一度达到44.83%。虽然此次解除了部分质押，但又新增了质押，质押比例仍维持在较高水平。高比例质押通常意味着相关股东存在一定资金压力，若公司股价波动加剧，可能引发平仓风险，间接增加二级市场抛压，对股价形成负面影响。
• 资金用途及流动性关注： 质押融资用于对外借款，未涉及重组或业绩补偿等，但投资者需关注大股东资金需求及流动性状况，避免因资金链问题带来潜在的经营或资本市场风险。
• 应对措施： 公告明确若出现平仓风险将采取补充质押、提前还款等措施，但实际执行效果仍需密切跟踪。投资者应持续关注后续相关公告及股东质押变化。

三、详细信息汇总

• 本次新增质押股份质权人为国泰海通证券，质押期限自2026年5月11日至2027年5月11日。
• 股份质押未用于重大资产重组或业绩补偿等事项。
• 江河汇众暂无后续其他质押计划。

四、投资者需关注重点

1. 主要股东高比例股份质押，需警惕潜在的市场抛压和流动性风险。
2. 未来若公司出现分红、投资收益下降或公司股价大幅波动，或将对江河汇众的还款能力和质押安全产生影响。
3. 公司后续公告需持续关注，如有新的质押或解质押计划，亦可能影响公司二级市场表现。

免责声明

以上内容仅为基于公司公告的分析和汇总，不构成任何投资建议。股市有风险，投资需谨慎。请投资者根据自身实际情况及风险承受能力做出投资决策。

English Version:

Detailed Review of Jianghe Group’s Major Shareholder Share Pledge and Unpledge Announcement

1. Key Points

• Major shareholder Beijing Jianghe Huizhong Enterprise Management Partnership (Limited Partnership) (“Jianghe Huizhong”) holds 156.1376 million shares of Jianghe Construction Group Co., Ltd. (“the Company”), accounting for 13.78% of the total share capital.
• As of the announcement date, Jianghe Huizhong had cumulatively pledged 70 million shares (including this event), accounting for 44.83% of its shareholding and 6.18% of the total share capital.
• On May 8, 2026, Jianghe Huizhong released the pledge of 70 million shares. The remaining pledged shares are 23.33 million, representing 14.94% of its holdings and 2.06% of the total share capital.
• On May 11, 2026, Jianghe Huizhong newly pledged 46.67 million shares, accounting for 29.89% of its holdings and 4.12% of the total share capital. The funds raised are for external loans.
• The pledgee is Guotai Haitong Securities Co., Ltd., and the pledge is not related to major asset restructuring or performance compensation.
• Jianghe Huizhong plans to repay with dividends and investment returns. In case of margin call risk, the shareholder will address it by supplementary pledge or early repayment.

2. Important and Potential Price-Sensitive Information for Shareholders

• High Pledge Ratio Risk: The shareholder’s pledge ratio is high, indicating funding pressure. Any volatility in the share price could trigger forced selling and increase market selling pressure, which may negatively impact the stock price.
• Capital Use and Liquidity: The funds raised are for external borrowing. Investors should pay attention to the shareholder’s liquidity status to avoid potential operational or capital market risks.
• Risk Mitigation Measures: The company stated it would take measures such as supplementary pledges or early repayment if risks emerge. Investors should closely monitor follow-up announcements.

3. Table Summary

• The new pledge is for Guotai Haitong Securities from May 11, 2026 to May 11, 2027.
• No use for major asset restructuring or performance compensation.
• No further pledge plan for now.

4. Investor Focus

1. High proportion of pledged shares by core shareholder may bring market risk and liquidity concerns.
2. Any significant decrease in dividend or investment income, or a sharp drop in share price, could impact repayment ability and pledge safety.
3. Ongoing disclosures regarding pledges/unpledges should be closely tracked, as they may impact stock performance.

Disclaimer

This article is based on official announcements for information and analysis only. It does not constitute investment advice. The stock market carries risks; please make investment decisions based on your own situation and risk tolerance.

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