# share pledge
Latest news and articles about share pledge
Total: 3 articles found
Once China’s Milk‑Tea Champion, Xiangpiaopiao Sees Profits Halved as Business Model Wobbles
Xiangpiaopiao, once the leading listed milk‑tea brand in China, reported a 2025 net profit decline of roughly 50–60% and an 11% drop in revenue, driven by weak sales of seasonal brewed products. The company is pursuing diversification—opening fresh tea shops and planning a factory in Thailand—but these moves carry execution risk and will likely require sustained investment before improving results.
Judicial Auction Sells Nearly 6% of Pediatric Drug Firm as Creditors Move In
ST Huluwa, a Chinese paediatric drug manufacturer, saw 23.9 million shares (about 5.97% of equity) sold at a judicial auction after a major-shareholder pledge triggered creditor action. Buyers included private funds and individuals; Huluwa Investment remains the largest shareholder but its stake fell to 35.79%. The sale highlights acute liquidity, governance and regulatory problems at the company and the broader risks that share pledges pose in China’s markets.
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.