Vanfund(SZ:000638) Zheng Quan Shi Bao Wang·2025-07-22 02:21Core Viewpoint - The auction of *ST WanFang's major shareholder's shares has been retracted due to jurisdictional issues, but the risk of future auctions remains, potentially affecting the company's control structure and financial performance [1][2][3] Group 1: Auction and Shareholder Control - The Changchun Intermediate Court planned to auction 90.86 million shares held by WanFang Yuan, representing 29.18% of the total shares, on July 22-23, 2025 [1][2] - The auction was retracted because the Beijing Third Intermediate Court did not transfer the disposal rights of the shares [1][2] - If the shares are auctioned and sold in the future, WanFang Yuan could lose its status as the major shareholder, which would automatically invalidate the voting rights entrusted to HuiDe Industrial [3] Group 2: Financial Performance - *ST WanFang expects a net loss of 4.5 million to 6.5 million yuan for the first half of 2025, compared to a profit of 1.0471 million yuan in the same period last year [3] - The significant decrease in net profit is attributed to the previous year's recovery of receivables, which resulted in a reversal of credit impairment losses of approximately 7.8 million yuan [3] - Non-recurring gains and losses are expected to impact net profit by about 580,000 yuan, mainly from government subsidies received by subsidiaries [3]