Harmontronics Automation(SH:688022) Shang Hai Zheng Quan Bao·2025-11-14 18:53Core Viewpoint - The announcement details the judicial auction of shares held by the controlling shareholder of Suzhou Hanchuan Intelligent Technology Co., Ltd., indicating potential changes in shareholding structure and control risks for the company [2][3][4]. Group 1: Auction Details - The controlling shareholder, Suzhou Hanchuan Investment Management Co., Ltd., holds a 27.93% stake in the company, totaling 49,123,978 shares. The auction involves 1,309,431 shares, representing 2.67% of the shares held by the controlling shareholder and 0.74% of the total share capital [2][8]. - The auction is scheduled for two rounds, with the first round from December 30, 2025, to December 31, 2025, and the second round from January 26, 2026, to January 27, 2026 [5][6]. Group 2: Financial Implications - The market value of the auctioned shares is approximately 20,112,860.2 yuan, with a starting price of 14,079,003 yuan. If sold at the starting price, it could cover related debts of 14,079,003 yuan, but residual debt may still pose a risk [6][9]. - If all auctioned shares are sold and transferred, the controlling shareholder's stake would decrease to 19.72%, and the actual controller's indirect control would drop to 26.24% [2][8]. Group 3: Legal Context and Risks - The auction arises from a lawsuit involving the controlling shareholder and other shareholders due to failure to fulfill legal obligations, leading to the court's decision to auction the shares [7]. - There are ongoing legal disputes, including a divorce-related debt case involving the actual controller, which may further affect control stability [3][9]. - The auction process is still in the public notice phase, with uncertainties regarding bidding, payment, and share transfer procedures [9].