Vanfund(SZ:000638) Ge Long Hui A P P·2025-09-04 06:31Core Viewpoint - *ST Wanfang (000638.SZ) experienced a significant drop, hitting the daily limit down, with over 190,000 sell orders and a transaction volume of 5,996 shares, amounting to 2.5483 million yuan [1] Group 1: Shareholder Actions - The largest shareholder, Wanfangyuan, holds 90.86 million shares, representing 100% of its holdings and 29.18% of the company's total equity, which went unsold in a judicial auction due to lack of bidders [1] - The potential for a second auction or disposal of nearly 30% of the company's shares raises concerns about a possible change in control [1] - The second-largest shareholder, Shuangyang Rural Commercial Bank, plans to reduce its stake from 6.2846% to below 5% by selling up to 3% of the total equity between September 25 and December 23, 2025, due to its own funding needs [1]