Zheng Quan Shi Bao Wang·2025-10-21 05:08Core Viewpoint - Ningbo Zhongbai's major shareholder, Zhu Renbao, has had 18.884 million shares put up for judicial auction due to a court ruling related to a market manipulation case involving Xu Xiang, with the auction concluding on October 21 at a price significantly below the market value [2][10]. Group 1: Auction Details - The auction for Zhu Renbao's shares was held on October 20, with a total of 18.884 million shares being auctioned, representing 8.42% of Ningbo Zhongbai's total share capital [2]. - The shares were sold for 270 million yuan, equating to 14.3 yuan per share, which is over 15% lower than the closing price of 17.13 yuan on the auction day [4][10]. - Only three bidders participated in the auction, with two actively bidding, indicating a lack of competitive interest [3][4]. Group 2: Company Background and Implications - Zhu Renbao is identified as the third-largest shareholder of Ningbo Zhongbai, and his shares were under judicial freeze due to a criminal case that has now entered the execution phase [2][10]. - The winning bidder, Hangzhou Jindi Commercial Management Co., Ltd., acquired the shares, which is controlled by Lu Sikan, who also has interests in the real estate sector [10][11]. - The real estate market is currently experiencing a downturn, yet Hangzhou Jindi has shown willingness to invest heavily, as evidenced by their recent acquisition of a prime land parcel in Hangzhou for 5.45 million yuan per square meter, reflecting a 21% premium [10].