JLGF(SZ:000712) Zheng Quan Shi Bao Wang·2025-02-20 02:11Core Viewpoint - The judicial auction of Jinlong Co., Ltd. shares has concluded, with mixed results, highlighting the challenges in the current market environment for such assets [2][4]. Group 1: Auction Results - The auction involved seven targets, attracting nearly 40,000 viewers, but only one target, 2 million shares held by the controlling shareholder, was successfully auctioned [2][4]. - The successful bidder, a natural person named Zhu Bo, acquired the shares at the base price of 24.3972 million yuan, which translates to a cost of approximately 13.5-13.6 yuan per share [4][6]. - The remaining six targets, totaling 60.3 million shares held by actual controller Yang Zhimao, all failed to attract bids, despite some initial interest [2][7]. Group 2: Shareholder Structure - The shares successfully auctioned represent 0.8% of the shares held by the controlling shareholder and 0.22% of Jinlong's total share capital [3][5]. - Yang Zhimao's shares account for 90.95% of his holdings and 6.73% of Jinlong's total share capital [5][6]. Group 3: Future Auction Considerations - Following the failure of the initial auction, the second auction will have a starting price of no less than 80% of the first auction's starting price, potentially lowering the entry point for bidders [7][8]. - The initial starting prices for the six failed targets were set at a total of 736 million yuan, indicating significant financial stakes involved [6][7]. Group 4: Background Context - The auction stems from a long-standing dispute involving the controlling shareholder's failure to repay financing debts, leading to forced execution [8]. - The total amount involved in the execution is reported to be 578 million yuan, emphasizing the financial pressures on the controlling entities [8].