Legal analysis: Not in principle. After the pledge of the exclusive right to use a trademark, the pledgor may not transfer the trademark in principle, but it may be transferred after consultation between the pledgor and the pledgee.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 431 During the duration of the pledge, if the pledgee uses or disposes of the pledged property without the consent of the pledger, and the pledgee causes damage, it shall be liable for compensation.

Article 432 The pledgee has the obligation to properly keep the pledged property; If the pledged property is damaged or lost due to improper custody, it shall be liable for compensation.

If the pledgee's behavior may damage the pledged property, the pledger may request the pledgee to deposit the pledged property, or request to pay off the debt in advance and return the pledged property.

Article 434 During the pledge period, if the pledgee transfers the pledged property without the consent of the pledger, thus causing damage or loss of the pledged property, it shall be liable for compensation.