WFDSJ(SH:601010) Zheng Quan Zhi Xing·2025-07-13 10:16Core Points - The announcement details the judicial auction of shares held by a major shareholder, Zheng Suzhen, resulting in a significant reduction of her stake in the company [1][2][3] - Prior to the auction, Zheng held 275,000,000 shares, representing 14.88% of the total shares, which decreased to 123,728,407 shares, or 6.70%, after the auction [1][3] - The reduction in shareholding is a result of a court ruling and does not trigger a mandatory tender offer [1][3] - The company asserts that this change will not adversely affect its management or lead to a change in its controlling shareholder [1][3] Summary of Events - The first round of the judicial auction concluded on April 30, 2025, with 11,850,000 shares sold and 263,150,000 shares remaining unsold [2] - Following the first auction, Zheng's shareholding decreased to 14.24% [2] - The second round of the auction ended on June 21, 2025, resulting in the sale of 139,421,593 shares, leaving 123,728,407 shares unsold [3] - After the second auction, Zheng's shareholding further decreased to 6.70% [3] Regulatory Context - The announcement references the Shanghai Stock Exchange's regulations regarding major shareholder share reductions, indicating that the buyer of the judicially auctioned shares is restricted from selling them for six months [2][4]