Vanfund(SZ:000638) Shang Hai Zheng Quan Bao·2025-10-19 19:30Core Viewpoint - The announcement highlights the abnormal trading fluctuations of WanFang Urban Investment Development Co., Ltd. and the potential risks associated with the change in its major shareholder status due to legal proceedings against its largest shareholder, WanFang Yuan [2][3][8]. Group 1: Stock Trading Abnormalities - The company's stock experienced a cumulative price deviation of 14.35% over three consecutive trading days from October 15 to October 17, 2025, which qualifies as abnormal trading activity according to Shenzhen Stock Exchange rules [3]. - The company has confirmed that there are no undisclosed significant events that could have impacted the stock price [4][5]. Group 2: Shareholder Changes - WanFang Yuan, the major shareholder, has faced legal actions resulting in the auction of 90,860,000 shares, which have failed to sell, leading to a risk of losing its status as the largest shareholder [2][8]. - If WanFang Yuan loses its major shareholder status, the voting rights associated with 80,444,000 shares will automatically become invalid, potentially leading to a change in control of the company [9]. Group 3: Regulatory and Compliance Issues - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [10]. - The company has not disclosed any performance forecasts or provided unpublished third-quarter performance information, with the third-quarter report scheduled for release on October 31, 2025 [10].