沧州明珠控股股东一致行动人部分股份质押，投资者需关注潜在影响

沧州明珠塑料股份有限公司（证券代码：002108）于2026年5月13日发布公告，披露控股股东一致行动人河北沧州东塑集团股份有限公司（简称“东塑集团”）对所持公司部分股份进行了质押操作。以下为本次公告的详细内容及对投资者可能产生的重要影响：

一、股份质押的基本情况

• 质押方：东塑集团（为控股股东广州轻工工贸集团有限公司一致行动人）
• 质押股份数量：40,000,000股
• 占东塑集团持股比例：27.14%
• 占公司总股本比例：2.43%
• 质押起止日期：2026年5月11日至2027年5月11日，期限为一年
• 质权人：中信证券股份有限公司
• 质押用途：补充流动资金
• 是否为限售股/补充质押：均为否

二、累计质押情况

本次质押后，东塑集团累计质押40,000,000股，占其持股的27.14%，占公司总股本的2.43%。广州轻工集团、于立辉及赵明均无股份质押。

三、一致行动人关系及表决权委托

东塑集团与广州轻工集团签署了股份转让及表决权委托协议，二者构成一致行动关系；公司董事于桂亭之子于立辉、东塑集团董事长赵明之子赵明，也与广州轻工集团签署表决权委托协议，均为一致行动人。这意味着公司实际控制权较为集中，表决权受控于上述一致行动人集团。

四、风险提示及公司应对措施

• 截至公告披露日，东塑集团所质押股份不存在平仓或被强制平仓的风险。
• 东塑集团具备履约能力，质押风险可控。
• 如后续出现平仓风险，东塑集团将通过补充质押、追加保证金等方式应对，相关质押行为不会导致公司实际控制权变更。
• 公司表示将持续关注质押情况及风险变化，按规定及时进行信息披露。

五、投资者关注重点及潜在影响

• 本次公告显示，控股股东一致行动人东塑集团为补充流动资金，将其所持公司股份的27.14%进行了质押，数量较大，若未来股价波动或东塑集团资金链紧张，可能对公司股权稳定性造成一定影响。
• 不过，目前东塑集团无被平仓风险，且公司控制权不会因本次质押发生变动。
• 投资者应关注后续质押比例、控股股东资金状况等，若市场或公司经营出现重大不利变化，质押风险可能放大，对股价产生波动。

六、备查文件

• 中国证券登记结算有限责任公司证券质押及司法冻结明细表
• 持股5%以上股东每日持股变化明细
• 证券质押登记证明

结论：本次大额股份质押属于控股股东一致行动人资金安排行为，短期内未对公司控制权稳定性构成威胁，但大额质押行为需投资者持续关注后续风险及市场反应，具备一定的价格敏感性。

免责声明：本文基于公司公告信息整理，不构成投资建议。投资者应结合自身风险承受能力和市场环境，审慎决策。

English Version

Cangzhou Mingzhu: Major Share Pledge by Controlling Shareholder’s Acting-in-Concert Party, Investors Should Watch for Potential Impact

Cangzhou Mingzhu Plastic Co., Ltd. (Stock code: 002108) disclosed on May 13, 2026, that its controlling shareholder’s acting-in-concert party, Hebei Cangzhou Dongsu Group Co., Ltd. (“Dongsu Group”), has pledged a portion of its holdings in the company. Details and potential implications for investors are as follows:

1. Key Details of This Share Pledge

• Pledgor: Dongsu Group (an acting-in-concert party with the controlling shareholder Guangzhou Light Industry and Trade Group)
• Pledged Shares: 40,000,000 shares
• As a Percentage of Dongsu Group’s Holdings: 27.14%
• As a Percentage of Company’s Total Share Capital: 2.43%
• Pledge Period: May 11, 2026, to May 11, 2027 (one year)
• Pledgee: CITIC Securities Co., Ltd.
• Purpose of Pledge: To supplement working capital
• Not restricted shares, not a supplementary pledge

2. Accumulated Pledge Situation

After this pledge, Dongsu Group has pledged 40,000,000 shares, or 27.14% of its holdings and 2.43% of the company’s total share capital. Guangzhou Light Industry Group, Yu Lihui and Zhao Ming have no pledged shares.

3. Acting-in-Concert and Voting Rights Entrustment

Dongsu Group and Guangzhou Light Industry Group have signed a share transfer and voting rights entrustment agreement, forming an acting-in-concert relationship. Company director Yu Guiting’s son, Yu Lihui, and Dongsu Group chairman Zhao Ming’s son, Zhao Ming, have also signed voting rights entrustment agreements with Guangzhou Light Industry Group, becoming acting-in-concert parties. This means that control rights are highly concentrated among these parties.

4. Risk Warning and Company Response

• As of the announcement date, Dongsu Group’s pledged shares are not at risk of forced liquidation.
• Dongsu Group has the capacity to perform its obligations; pledge risks are controllable.
• If forced liquidation risk arises, Dongsu Group will take measures such as additional pledges or margin top-ups. The pledge will not trigger a change in control.
• The company will monitor and disclose relevant information in a timely manner.

5. Investor Focus and Potential Impact

• The acting-in-concert party Dongsu Group pledged 27.14% of its holdings (2.43% of total shares) for working capital, a substantial figure. If there is stock price volatility or pressure on Dongsu Group’s cash flow, the company’s equity stability could be affected.
• Currently, there is no liquidation risk and no change in actual control.
• Investors should watch future pledge ratios and the financial condition of the main shareholders, as adverse developments could amplify risk and impact the stock price.

6. Reference Files

• China Securities Depository and Clearing Corporation Pledge and Judicial Freeze Details
• Daily shareholding changes for shareholders holding over 5%
• Pledge registration certificate

Conclusion: This substantial share pledge is a financial operation by the acting-in-concert controlling group. In the short term, it does not threaten control stability, but investors should monitor any subsequent changes in risk and market reaction. The event is price-sensitive and could move the share price under certain conditions.

Disclaimer: This article is based on the company’s public notice and does not constitute investment advice. Investors should make prudent decisions based on their own risk tolerance and market conditions.

View 沧州明珠 Historical chart here