PACIFIC SECURITIES(SH:601099) Zheng Quan Zhi Xing·2025-03-25 10:30Core Viewpoint - The announcement details the continued freezing of shares held by Beijing Jiayu Investment Co., Ltd. in Pacific Securities, which may lead to a change in the company's largest shareholder to Huachuang Securities if the judicial auction is successful [1][2]. Summary by Sections Shareholder Share Freezing - As of the announcement date, Jiayu Investment holds 744,039,975 shares, accounting for 10.92% of the total share capital of Pacific Securities. All of Jiayu Investment's shares are frozen and have been judicially auctioned to Huachuang Securities [1][2]. - The shares are subject to a judicial freeze due to a court case initiated by Huachuang Securities over a share transfer dispute. The court's decision on October 27, 2021, led to the enforcement application by Huachuang Securities due to Jiayu Investment's non-compliance with the ruling [2][3]. Judicial Auction and Shareholder Change - The judicial auction of Jiayu Investment's shares was completed on May 27, 2022, with Huachuang Securities winning the bid. The shares are still pending transfer registration [1][2]. - If the transfer is successful, Huachuang Securities will become the largest shareholder of Pacific Securities, which may impact the company's operations and governance [3]. Ongoing Legal Matters - Jiayu Investment is involved in multiple legal disputes, including a lawsuit from a law firm for unpaid legal fees and a civil loan dispute. However, there are no significant lawsuits or arbitrations related to debt issues in the past year [3][4]. - The company emphasizes that the freezing of Jiayu Investment's shares has not materially affected its operations or governance [3][4].