证券时报·2026-01-12 07:27Core Viewpoint - The article discusses the upcoming judicial auction of shares held by Yibin Zhiyi Liquor Co., Ltd. in A-share company Mengsheng Electronics, highlighting potential arbitrage opportunities due to the difference between the auction starting price and the market value of the shares [3][5]. Group 1: Company Overview - Yibin Zhiyi Liquor Co., Ltd. was established in 2001 with a registered capital of 50 million yuan, and its shareholders include Li Songtao, Liu Nan, and Zhang Chunyi [6]. - The company was once a well-known liquor distributor and has made significant donations to educational institutions, including over 1,000 boxes of liquor to universities [6]. Group 2: Financial Situation - Zhiyi Liquor has faced severe operational crises in recent years, with numerous lawsuits and a total amount involved in execution reaching nearly 200 million yuan [3][12]. - The company was listed as an executed person by the Chengdu Intermediate People's Court in May 2022, with an execution amount of 367 million yuan [12][14]. Group 3: Shareholding and Investment - Zhiyi Liquor's investment in Mengsheng Electronics began in 2019, with a cumulative investment of approximately 50 million yuan, and it held 2.9656 million shares at the time of the company's IPO [9]. - Following a stock split in 2022, Zhiyi Liquor's holdings increased to 4.1518 million shares, with a current market value exceeding 240 million yuan [9]. Group 4: Auction Details - The judicial auction for the shares is set to take place from January 23 to January 24, with a starting price of 87.4369 million yuan and a market valuation of 105 million yuan [5]. - As of now, there have been no registrations for the auction [5]. Group 5: Market Performance - Mengsheng Electronics has been performing well in the market, with its stock price increasing by over 90% since late November of the previous year [7].