徐翔之母，股份被拍卖

Core Viewpoint - The article discusses the judicial auction of shares held by major shareholder Zheng Suzhen of Wenfeng Co., which is linked to the securities market manipulation case involving Xu Xiang, her son [1][2][9]. Group 1: Judicial Auction Details - On July 28, Wenfeng Co. announced that Zheng Suzhen's 124 million unrestricted circulating shares will be auctioned on JD Network's judicial auction platform [1][3]. - The auction will take place from August 11, 2025, to October 10, 2025, with the shares divided into 124 lots, each containing 1 million shares, except for one lot containing 728,400 shares [3]. - The company stated that this judicial auction will not significantly impact its management or lead to changes in its controlling shareholder or actual controller [3]. Group 2: Background on Shareholder's Legal Issues - Zheng Suzhen's shares are being auctioned as part of the execution of a criminal judgment by the Qingdao Intermediate Court, which found Xu Xiang and others guilty of manipulating the securities market [2][9]. - This is not the first time Zheng Suzhen's shares have been auctioned; previous auctions occurred in April and June 2025, with significant portions of her shares being sold [5][6][7]. Group 3: Previous Auction Outcomes - In the first auction held on April 30, 2025, out of 275 million shares, only 11.85 million shares were sold, while 263 million shares went unsold [6]. - In the second auction on June 21, 2025, 139 million shares were sold, leaving 124 million shares unsold, reducing Zheng Suzhen's holdings from 14.24% to 6.70% of the total share capital [7]. Group 4: Regulatory Context - According to the Shanghai Stock Exchange's regulations, the buyer of the auctioned shares cannot reduce their holdings within six months after the acquisition [4].