Xi'an Manareco announced that Liu Xiaochun, a shareholder holding more than 5% of the company, has a concerted actor, Xin Zhou New Materials, which holds 12.2821 million shares of the company, accounting for 7.14% of the company's total share capital. Xin Zhou New Materials has pledged 2 million shares of the company this time, accounting for 16.28% of its held shares and 1.16% of the company's total share capital. The pledge start date is May 9, 2025, and the pledgee is Shaanxi Jianghao Venture Capital Co., Ltd. The pledged financing funds are used for its own funding needs. Xin Zhou New Materials has cumulatively pledged 2 million shares, accounting for 16.28% of its held shares and 1.16% of the company's total share capital