Core Viewpoint - The announcement highlights that the controlling shareholder of Shanghai Chuangxing Resources Development Co., Ltd., Zhejiang Huqiao Industrial Co., Ltd., will have part of its shares judicially auctioned due to legal obligations arising from debt guarantees [2][8]. Group 1: Judicial Auction Details - Zhejiang Huqiao Industrial holds 101,664,147 shares, accounting for 23.90% of the total share capital, which are all frozen [2]. - A total of 67,000,000 shares, representing 65.90% of the shares held by Huqiao Industrial and 15.75% of the company's total shares, will be auctioned from May 27, 2025, to May 28, 2025 [2][4]. - If the auction is successful, Huqiao Industrial's shareholding will decrease to 34,664,147 shares, or 8.15% of the total share capital [3][8]. Group 2: Reasons for Judicial Auction - The controlling shareholder pledged shares to various banks, leading to the current judicial auction due to legal actions taken by creditors [7][8]. - Specific pledges include 20,000,000 shares on June 27, 2023, 9,000,000 shares on February 5, 2024, 11,000,000 shares on November 20, 2023, and 27,000,000 shares on March 7, 2024 [7]. Group 3: Implications of Share Transfer - If both the judicial auction and the subsequent share transfer agreement with Liaoning Jingcheng Enterprise Management Partnership are completed, Huqiao Industrial will no longer hold any shares, resulting in a change of the controlling shareholder and actual controller of the company [3][8]. - The auction process is still in the public notice stage, and the outcome remains uncertain, which may affect the company's governance and operations [3][8].
上海创兴资源开发股份有限公司关于公司控股股东所持部分股份将被司法拍卖的提示性公告