HIKING(SH:600735) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-27 00:45Core Viewpoint - Shandong Xinhua Jin International Co., Ltd. announced that its controlling shareholder, Shandong Lujin Import and Export Group Co., Ltd., has had all of its shares frozen due to a legal case, which may impact the company's operations and governance [2][3][7]. Group 1: Shareholder Information - Lujin Group holds 185,532,352 shares, accounting for 43.27% of the total shares of the company [2]. - As of the announcement date, all shares held by Lujin Group have been judicially frozen, totaling 185,532,352 shares, which represents 100% of its holdings [2][3]. - Lujin Group and its concerted actors collectively hold 185,596,152 shares, which is 43.28% of the total shares, with 99.97% of these shares being frozen [2]. Group 2: Legal and Financial Context - The judicial freezing of shares is related to a property preservation case involving Lujin Group and other companies [3]. - As of the announcement date, Lujin Group's parent company, Xinhua Jin Group, and its affiliates have non-operationally occupied funds amounting to 406 million yuan [6]. - The company has confirmed that it has not provided any illegal guarantees to Lujin Group or its affiliates [7]. Group 3: Operational Impact - The company maintains that the judicial freezing of shares will not have a significant impact on its production, operations, or governance, and all business activities are running normally [7]. - The company is committed to monitoring the situation and will fulfill its information disclosure obligations as required by law [7]. Group 4: Risk Warning and Stock Suspension - Due to the non-operational occupation of funds by related parties and failure to rectify the situation within one month, the company's stock will be subject to risk warnings and will be suspended for one day on September 29, 2025 [9][12]. - The stock will be renamed to ST Xinhua Jin starting September 30, 2025, with a trading limit of 5% on price fluctuations [12][13].