卢斯侃的"金帝系"终于锁定宁波中百（600857.SH）第一大股东。 据阿里拍卖平台显示，11月23日上午10：00，宁波中百控股股东西藏泽添所持公司3540.53万股（占总股本15.78%），最终以5.27亿元的起拍价成交，拍 得方也是此次法拍唯一竞拍者为——杭州金帝商业管理有限公司（简称：杭州金帝）。 图源：阿里拍卖平台 此前，杭州金帝已经通过二级市场、宁波中百上一次股权法拍，一共获得宁波中百13.18%的股份，加上此次拍得股份，杭州金帝将总共持有宁波中百 28.96%的股份，锁定第一大股东。 11月24日晚，宁波中百公告称，此次法拍最终成交结果以青岛中院裁定为准，后续涉及缴款、过户等环节，结果不确定。若成交且过户完成，公司控制权 将变更。 此外，宁波中百还表示，目前经营正常，暂不影响生产，也不会使股权分布不达标。受让方6个月内不得减持。 此次股权拍卖还要追溯到2017年。当年1月，青岛中院作出的（2016）鲁02刑初148号刑事判决书生效，徐翔因犯操纵证券市场罪,被判处有期徒刑五年零 六个月，没收案件中违法所得约93.37亿元，并处罚金110亿元。因被执行人未履行义务，案件涉财产部分才移送执行。 此外， ...

Core Viewpoint - Chengdu Road and Bridge (002628) is facing a judicial auction of 52.997 million shares held by its significant shareholder, Sichuan Hongyi Jiahua Industrial Co., Ltd., which represents 7% of the company's total share capital and 34.05% of the shares held by the controlling shareholder and its concerted parties [1][3]. Group 1: Auction Details - The auction will be conducted by the Chengdu Intermediate People's Court from November 24 to November 25, 2025, on the Taobao judicial auction platform, with a starting price of approximately 183 million yuan [1]. - The shares involved in the auction are unrestricted circulating shares, and as of the announcement, no one has registered to participate, although 296 individuals have shown interest [1]. Group 2: Historical Context - This is not the first time Hongyi Jiahua has faced a judicial auction; previously, on December 6, 2022, it auctioned 37.8597 million shares, which were ultimately acquired by the controlling shareholder, Dongjun Taida, for 138 million yuan [3]. - Following the previous auction, a voting rights entrustment agreement was signed on March 13, 2023, where Hongyi Jiahua entrusted all voting rights of its 117.8 million shares (15.55% of total shares) to Dongjun Taida, allowing Dongjun Taida to effectively control 20.55% of the voting rights despite holding only 5% of the shares [3]. Group 3: Impact on Company Structure - If the current auction is successful, the combined shareholding of Dongjun Taida and Hongyi Jiahua will decrease to 13.56%, but the company has stated that this auction will not lead to a change in control or affect the stability of its governance structure [4]. - Chengdu Road and Bridge has confirmed that it maintains complete independence in assets, business, finance, and organization from its controlling shareholders, indicating that the auction will not significantly impact its daily operations or ongoing viability [4].

公开资料显示，目前宁波中百的第一大股东为西藏泽添投资发展有限公司，持有15.78%股权，背后是 徐翔家族；太平鸟（603877.SH）实控人之一张江波持股10.09%；金帝此次接手的股权同样来自"徐翔 系"关联股东，竺仁宝和其子竺勇都被外界视为与徐翔关系密切；宁波中百的第四大股东郑素娥亦属于 徐翔家族。 而根据宁波中百此前公告，西藏泽添持有的股权也处于司法待拍卖状态：公司于2024年12月25日收到青 岛中院作出的《执行裁定书》，西藏泽添投资发展有限公司所持公司3540.53万股股票与竺仁宝所持公 司股票一起被拍卖登记。 徐翔家族实控的宁波中百（600857.SH）的股权棋局正在改写。今日，公司第三大股东竺仁宝所持的 1888.4万股股份在淘宝司法拍卖平台落槌，由杭州金帝商业管理有限公司以总价2.7亿元竞得。 淘宝网络司法拍卖平台上显示，宁波中百1888.4万股上市无限售流通股在2025年10月20日上午10时至 2025年10月21日上午10时进行拍卖，起拍价以2025年9月19日前二十个交易日的收盘均价*90%确定。此 次拍卖共3人报名，2人出价。 拍卖结束后，宁波中百的股价极速下跌，10分钟被砸到跌停板 ...

Core Viewpoint - Jinlong Co., Ltd. has conducted its fifth equity auction of the year, with the latest auction concluding on October 13, resulting in a total transaction price of 376 million yuan for 30 million shares, reflecting a premium of 19.75% over the starting price [2][9]. Auction Details - The auction took place from October 12 to 13, with 30 million shares divided into 10 lots of 3 million shares each, attracting both corporate and individual bidders [4]. - The bidding process was highly competitive, with a total of 726 bids placed, and individual lots receiving up to 94 bids [4]. - The final transaction price ranged from 12.28 yuan to 13.11 yuan per share, with the highest bid for a single lot reaching approximately 39.33 million yuan [4]. Major Buyers - Chengdu Jinyao No. 1 Enterprise Management Partnership emerged as the largest buyer, acquiring 21 million shares for 262 million yuan, while individual bidders also secured smaller lots [6]. - Jinyao No. 1 has connections to Luzhou Laojiao, indicating potential strategic interests in Jinlong Co., Ltd. [6]. Shareholder Structure - Following the auction, Jinyao No. 1 will become the fifth largest shareholder of Jinlong Co., Ltd. [8]. - Despite the auction, the controlling shareholder, Dongguan New Century Science and Education Development Co., Ltd., retains 146 million shares, representing 16.29% of the total share capital, while the actual controller, Yang Zhimao, holds 36 million shares (4.02%) [9]. Auction Trends - The frequency of equity auctions has increased, with the first auction of the year experiencing low interest, resulting in unsold shares [9]. - A turnaround occurred in August when previously unsold shares were successfully auctioned after being split into smaller lots, achieving a premium rate of 15.3% [9]. - The latest auction continued this trend of splitting shares, achieving an even higher premium of 19.75%, indicating a growing market recognition of the equity [9]. Company Performance - Jinlong Co., Ltd. has faced challenges in its operational performance, leading to multiple equity auctions and asset disposals [10]. - The company previously announced the sale of a 20% stake in Dongguan Securities for 2.272 billion yuan, significantly increasing the controlling stake of the Dongguan state-owned assets [11]. - Plans to sell a 67.78% stake in Zhongshan Securities were halted to avoid leaving the company with only cash or non-operational assets [11].

Core Viewpoint - The announcement reveals that the controlling shareholder of Jinlong Co., Ltd. is undergoing a judicial auction of 30 million shares, which may impact the company's shareholder structure but not its management control [1][4]. Group 1: Shareholder Auction Details - Jinlong Co., Ltd. disclosed that 30 million shares held by its controlling shareholder, Dongguan New Century Science and Education Development Co., Ltd., were auctioned on JD.com from October 12 to October 13 [1]. - The shares were divided into 10 lots, each consisting of 3 million shares, with a starting price of 31.3845 million yuan per lot, set at a 30% discount from the average closing price over the previous 20 trading days [3]. - Chengdu Jinyao No. 1 Enterprise Management Partnership won 21 million shares for a total of 262 million yuan, potentially making it the fifth-largest shareholder of Jinlong Co., Ltd. [3]. Group 2: Impact on Shareholding Structure - Following the auction, if all shares are transferred, New Century will still hold 146 million shares, representing 16.29% of the total share capital, maintaining its status as the controlling shareholder [4]. - The actual controller of Chengdu Jinyao No. 1 is the Luzhou State-owned Assets Supervision and Administration Commission, holding a 39.72% stake with 100% voting rights [4]. Group 3: Previous Auctions and Financial Issues - This auction marks the fifth instance of Jinlong Co., Ltd.'s shares being auctioned this year, with previous auctions occurring in February, April, July, and August [6]. - New Century's shares are being auctioned due to disputes with a financial institution in Chongqing, with a total of 43.5 million shares involved in ongoing legal issues [6][7]. - Jinlong Co., Ltd. has faced significant financial challenges, reporting losses for four consecutive years, with total losses of 1.31 billion yuan, 3.92 billion yuan, 3.84 billion yuan, and 890 million yuan from 2021 to 2024 [8]. Group 4: Recent Financial Performance - In the first half of this year, Jinlong Co., Ltd. reported a total revenue of 417 million yuan, a 16.35% increase year-on-year, and a net profit attributable to shareholders of 125 million yuan, a 344.38% increase compared to the same period last year [9][10]. - The company achieved a significant increase in investment income, reaching 535 million yuan, which is a 120.30% rise year-on-year [9].

Core Viewpoint - The state-owned asset management company in Meishan is expected to acquire actual control of a listed company, Jingyi Co., Ltd., for approximately 1.086 billion yuan through a judicial auction of shares held by the controlling shareholder [1][5]. Group 1: Acquisition Details - The controlling shareholder, Nantong Sanjian Holdings Co., Ltd., is selling 75,184,700 shares, representing 29.99996% of the total share capital, which will result in a change of control if the auction is completed [1][5]. - The winning bidder, Sichuan Xingdong Investment Group Co., Ltd., won the shares at a final price of 1,085,514,969.60 yuan, which is nearly 40% higher than the starting price of 780 million yuan, translating to approximately 14.44 yuan per share [2][5]. Group 2: Company Background - Sichuan Xingdong is a state-owned enterprise with a registered capital of 3 billion yuan and total assets of 83.9 billion yuan, focusing on various sectors including investment operations, cultural technology services, new energy, health, park development, and urban infrastructure [2]. - The shares being auctioned are the only shares held by Nantong Sanjian, which are currently under pledge and judicial freeze [5]. Group 3: Financial Performance of Jingyi Co., Ltd. - In the first half of 2025, Jingyi Co., Ltd. reported a revenue of 2.381 billion yuan, a year-on-year increase of 38.80%, while the net profit attributable to shareholders decreased by 42.95% to 10.86 million yuan [10][11]. - The company’s total assets increased by 19.26% to approximately 2.491 billion yuan, while the net assets attributable to shareholders remained relatively stable with a slight increase of 0.08% [11]. Group 4: Management Issues - The former chairman of Jingyi Co., Ltd., Huang Yuhui, has been involved in multiple economic disputes and has been listed as a dishonest person by the courts, leading to his resignation [4][9]. - Following regulatory intervention, Huang Yuhui resigned from all positions within the company, and the financial director, Gu Chong, has taken over as chairman [9].

Core Viewpoint - The stock auction process of *ST Yuancheng (603388.SH) has experienced significant fluctuations this year, with a notable decline in interest and participation following regulatory investigations into financial misconduct and insider trading involving the company's actual controller, Zhu Changren [1][3]. Group 1: Auction Process and Stock Performance - In the first half of the year, *ST Yuancheng's stock was highly sought after, with multiple auctions attracting numerous bidders and resulting in competitive bidding [2][3]. - For example, an auction on April 11 saw 6.8 million shares starting at 20.99 million yuan and ultimately selling for over 25 million yuan, translating to a per-share price of 3.68 yuan, which was above the previous closing price of 3.58 yuan [2]. - However, after the investigation was announced in July, the auction process shifted dramatically, with the first instance of stock going unsold occurring on July 9, when 7.8 million shares failed to attract any bids [3]. Group 2: Price Adjustments and Market Reaction - Following the investigation, the starting price for subsequent auctions was reduced by 20%, but the adjusted prices still exceeded the actual market value of the shares, indicating a lack of rational bidding behavior [1][3]. - The stock price of *ST Yuancheng peaked at 4.06 yuan per share earlier in the year but has since plummeted, with the most recent auction on September 10 resulting in another failure to sell 975,520 shares [1][4]. - The company has also reported significant stock price volatility, with a cumulative decline exceeding 12% over three consecutive trading days, raising concerns about potential delisting due to major legal violations and financial instability [4].

Core Viewpoint - The recent judicial auction of shares held by Zheng Suzhen, the mother of former private equity mogul Xu Xiang, in Daheng Technology has attracted market attention, with the shares being sold to a group of mysterious buyers at a total price of 1.712 billion yuan [1][2]. Group 1: Share Transfer Details - Zheng Suzhen's 130 million shares, representing 29.75% of Daheng Technology, were auctioned at an average price of 13.17 yuan per share, totaling 1.712 billion yuan [1]. - The main buyer, Li Rongrong, acquired shares amounting to 36.168 million yuan, which is 6.29% of the company's total share capital [2]. - Other buyers included China New Era Co., Ltd. and several individuals, each acquiring varying amounts of shares at the same price per share [2]. Group 2: Buyer Background - Li Rongrong, born in 1975, is reportedly a mid-level employee at Ningbo Jinhai Logistics Co., Ltd., which is a subsidiary of Ningbo Customs [5]. - There are claims that Li Rongrong is not the actual operator of the share acquisition, but rather a figurehead for relatives who pooled funds for the purchase [5][6]. - The company has stated that the payment for the shares has been completed, but the shares have not yet been transferred to Li Rongrong's name [5]. Group 3: Market Reaction - Following the announcement of the share auction, Daheng Technology's stock price initially dropped over 9% on August 5, but rebounded to hit the daily limit on August 6 [8]. - The company has projected a net loss of 4.06 million yuan for the first half of 2025, indicating challenges in profitability due to increased market competition and changes in supply and demand [10].

Core Viewpoint - The recent judicial auction of shares held by Zheng Suzhen, the mother of former private equity mogul Xu Xiang, in Daheng Technology (600288) has attracted market attention, with the shares being acquired by a group of investors at a total price of 1.712 billion yuan [1]. Group 1: Share Transfer Details - Zheng Suzhen's 130 million shares, representing 29.75% of the company, were auctioned off at an average price of 13.17 yuan per share [1]. - The auction's buyers include Li Rongrong, who acquired 6.29% of the total shares, and other investors such as China New Era Co., Ltd. and several individuals, with the total auction price amounting to 1.712 billion yuan [2][1]. - Li Rongrong's acquisition was made with self-raised funds, and she has no plans to change her shareholding or the company's main business in the next 12 months [2][3]. Group 2: Background of Li Rongrong - Li Rongrong, born in 1975, is associated with Ningbo Jinhai Logistics Co., Ltd., which is a subsidiary of the Ningbo Customs Logistics Management Center [4]. - Reports suggest that Li Rongrong may not be the actual operator of the share acquisition, as funds were reportedly raised by her relatives, with her being a figurehead for the transaction [4]. Group 3: Market Reaction and Company Performance - Following the announcement of the share auction, Daheng Technology's stock price initially dropped over 9% but later reached the daily limit on August 6 [6]. - The company's performance forecast for the first half of 2025 indicates a projected net loss of 4.06 million yuan, attributed to increased market competition and declining product profitability [8].

Core Viewpoint - The auction of shares held by Zheng Suzhen, mother of Xu Xiang, in Daheng Technology (600288) has attracted market attention, with the shares sold at a significant premium over the initial listing price [2]. Group 1: Auction Details - Zheng Suzhen's 130 million shares, representing a 29.75% stake in Daheng Technology, were auctioned off after 501 bids, with a final transaction price of 1.712 billion yuan, reflecting a 60.29% premium over the starting price of 1.068 billion yuan [2]. - The shares were acquired by eight investors, with Li Rongrong emerging as the largest winner, purchasing 27.46 million shares at a price of 13.17 yuan per share, totaling 362 million yuan [2]. Group 2: Investor Background - Li Rongrong, born in 1975 and residing in Ningbo, Zhejiang Province, has been a mid-level manager at Ningbo Jinhai Logistics Service Co., Ltd. since 2018 [2]. - The company, established in 2002 with a registered capital of 7.6 million yuan, is a wholly-owned subsidiary of the Ningbo Customs Logistics Management Center [2]. Group 3: Future Plans and Impact - Li Rongrong expressed confidence in the long-term investment value and future prospects of Daheng Technology, stating no plans for shareholding changes or significant adjustments to the company's main business in the next 12 months [3]. - The auction significantly impacts Daheng Technology's shareholding structure, as Zheng Suzhen will no longer hold any shares, leading to a change in control [4]. - The company confirmed that its operations remain normal and that the change in control will not adversely affect its governance structure or operations [4].