珠海珠免集团控股股东部分股权解除质押，股份质押比例下降

2026年3月18日，珠海珠免集团股份有限公司（600185，以下简称“公司”）发布公告，披露其控股股东珠海投资控股有限公司（以下简称“海投公司”）于2026年3月16日完成部分股权解除质押手续。以下为本次公告的详细解读，供投资者参考。

一、公告重点概要

• 海投公司本次解除质押股份数量为 39,000,000 股，占其持有公司股份的 4.60%，占公司总股本的 2.07%。
• 本次解除后，海投公司持有公司股份累计质押数量降至 332,000,000 股，占其持股的 39.18%，占公司总股本的 17.61%，较前期有所下降。
• 海投公司及其一致行动人珠海玖思投资有限公司合计持有公司 847,383,580 股，占总股本 44.95%。
• 本次解除质押的股份，原质押情况可追溯至2025年3月19日披露的相关公告。

二、股份质押及解除质押具体情况

• 本次质押解除股份为 39,000,000 股，质权人为西藏信托有限公司，相关证券质押登记手续已于2026年3月16日完成。
• 解除质押后，海投公司剩余被质押股份 332,000,000 股，占持股 39.18%，占公司总股本 17.61%。
• 控股股东及一致行动人累计质押股份数量由 371,000,000 股降至 332,000,000 股，质押比例下降。

三、对股东和投资者的重要信息及潜在影响

• 质押比例下降：控股股东质押比例的下降表明其财务状况可能有所改善，或有能力偿还相关融资，降低了股票因质押高比例带来的强制平仓等风险。
• 风险可控：公告强调，海投公司资信状况良好，具备还款能力，主要还款来源包括自有资金、投资收益、经营收益及分红，不存在平仓风险或被强制平仓情形。
• 无违规及侵害公司利益行为：截至公告日，海投公司不存在通过非经营性资金占用、违规担保、关联交易等侵害上市公司利益的情况。
• 信息披露及时：公司承诺将持续履行信息披露义务。

四、可能影响股价的因素

• 控股股东股份质押比例下降，通常被市场解读为公司治理结构向好、财务压力减轻的信号，短期内有助于提升投资者信心，可能对股价形成正面影响。
• 若未来控股股东进一步解除质押，质押比例继续降低，将进一步降低公司经营层面潜在的股价波动风险。

五、详细数据一览

六、结语

本次控股股东部分解除质押股份，提升了公司治理透明度，降低了因高比例质押带来的潜在财务风险，有助于增强投资者对公司未来发展的信心。建议投资者持续关注公司后续公告，把握相关信息。

免责声明：本文内容仅作资讯参考，不构成投资建议。投资有风险，入市需谨慎。请投资者结合自身实际情况及专业建议，理性决策。

English Version

Zhuhai Duty Free Group’s Controlling Shareholder Partially Releases Share Pledge, Pledge Ratio Decreases

On March 18, 2026, Zhuhai Duty Free Group Co., Ltd. (600185, “the Company”) announced that its controlling shareholder, Zhuhai Investment Holding Co., Ltd. (“Haitou”), completed the release of part of its pledged shares on March 16, 2026. Below is a detailed breakdown for investors.

I. Key Highlights

• Haitou released the pledge on 39,000,000 shares, accounting for 4.60% of its holdings and 2.07% of the Company’s total shares.
• After the release, Haitou’s cumulative pledged shares decreased to 332,000,000, representing 39.18% of its holding and 17.61% of the total share capital.
• Haitou and its concerted party, Zhuhai Jius Investment Co., Ltd., together hold 847,383,580 shares, or 44.95% of the total share capital.
• The released shares were previously pledged, with the original situation disclosed on March 19, 2025.

II. Details of the Share Pledge and Release

• The released pledge involved 39,000,000 shares with Tibet Trust Co., Ltd. The share unpledging registration was completed on March 16, 2026.
• After the release, Haitou still has 332,000,000 pledged shares (39.18% of its holdings, 17.61% of total share capital).
• The controlling shareholder and its concerted party’s cumulative pledge dropped from 371,000,000 to 332,000,000 shares, lowering the overall pledge ratio.

III. Important Information for Shareholders and Possible Price Impact

• Lower Pledge Ratio: The reduction in the pledge ratio is a positive signal, indicating improved financial standing or enhanced repayment capability, thus lowering the risk of forced liquidation due to high pledge ratios.
• Controllable Risk: Haitou is in good credit standing, with repayment sources such as self-owned funds, investment and operating income, and dividends. There is currently no risk of forced liquidation.
• No Irregularities: There are no non-operational fund occupation, illegal guarantees, or related-party transactions harming the listed company as of this disclosure.
• Timely Disclosure: The company commits to fulfilling information disclosure obligations in accordance with relevant laws and regulations.

IV. Potential Price-moving Factors

• A declining share pledge ratio by the controlling shareholder is generally seen as positive by the market, potentially boosting investor confidence and supporting the share price in the short term.
• Further reductions in the pledge ratio would continue to mitigate volatility risks associated with high-pledge situations.

V. Key Figures at a Glance

VI. Summary

This partial release of pledged shares by the controlling shareholder improves governance transparency and reduces financial risks associated with high pledge ratios, likely boosting investor confidence in the Company’s prospects. Investors are advised to monitor future disclosures closely.

Disclaimer: The above content is for informational purposes only and does not constitute investment advice. Investing involves risk; please make decisions prudently based on your circumstances and professional advice.

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