# share pledge

Bestore’s Balance‑Sheet Blind Spot: How an Overleveraged Controlling Shareholder Deepens the Snack Chain’s Turnaround Challenge

Bestore disclosed that its controlling shareholder, Ningbo Hanyi, faces court execution over about RMB 280 million of overdue trust debt, putting a large block of pledged shares at risk. The company is also reporting a sizable 2025 loss after continued store closures and margin pressure, while prior plans to bring in strategic investors failed to materialize.