MODERN AVENUE(SZ:002656) Xin Lang Cai Jing·2025-10-29 11:50Core Viewpoint - Modern Avenue Fashion Group Co., Ltd. (*ST Modern) announced a court ruling regarding a share ownership dispute involving its controlling shareholder's associate, Zhang Runqi, who must transfer 21 million shares back to the plaintiff, Ruiyang Holdings Group Co., Ltd. [1][2][3] Group 1: Lawsuit Background - The lawsuit was initiated by Ruiyang Holdings Group against Zhang Runqi, who was supposed to cooperate in transferring shares acquired through a judicial auction. Zhang registered 25.6 million shares, of which Ruiyang claims rights to 21 million shares [2]. - Ruiyang sent notification letters to Zhang on July 8 and July 22, 2025, requesting cooperation for the share transfer, but Zhang failed to comply, leading to the lawsuit [2]. Group 2: Judgment Outcome and Future Impact - The court ruled that 21 million shares and corresponding dividends in Zhang's account belong to Ruiyang Holdings, and Zhang must assist in the transfer within ten days of the ruling's effectiveness [3]. - *ST Modern stated that this ruling will not affect the controlling shareholder, actual controller, or the company's governance structure and ongoing operations [3].