CXJG(SZ:002547) Shang Hai Zheng Quan Bao·2025-09-08 19:34Core Viewpoint - The announcement highlights the potential judicial auction of shares held by the controlling shareholder, which may lead to a change in the company's control structure if the auction is successful [2][3][5]. Group 1: Judicial Auction Details - The shares subject to judicial auction include 154,199,995 shares and 15,535,008 shares, totaling 169,735,003 shares, which represent 55.91% of the shares held by the controlling shareholder and 15.05% of the company's total share capital [2][4]. - The auction is scheduled for September 23 to September 24, 2025, after a previous auction attempt on July 28-29, 2025, failed due to no bids [3][4]. - The shares are currently under judicial freeze, and the auction results remain uncertain as the court may suspend or withdraw the auction at any time [2][5]. Group 2: Impact on Company Control - If the auction is completed, the controlling shareholder's shares will decrease to 133,824,997, representing 11.86% of the total share capital, potentially leading to a change in the company's controlling shareholder and actual controller [5][4]. - As of the announcement date, the controlling shareholder and their concerted parties hold a total of 334,560,003 shares, accounting for 29.66% of the total share capital, with a significant portion being pledged and frozen [4][5]. Group 3: Company Financial Obligations - The company and its subsidiaries have provided guarantees exceeding 100% of the company's audited net assets for the fiscal year 2024, indicating a high level of financial obligation [9][27]. - The total amount of guarantees provided by the company and its subsidiaries is 440,563.90 million yuan, which is 9058.59% of the latest audited net assets [27]. - The company has stated that the guarantees are primarily for the benefit of its subsidiaries and that the financial risks are manageable [26][27].