Core Viewpoint - The company, Jinjia Group, is facing significant financial challenges, including a series of judicial auctions of its shares due to legal disputes and declining performance metrics [1][3]. Group 1: Share Auction and Ownership - Jinjia Chuangtou, the controlling shareholder, had 43.4 million shares (2.99% of total shares) go unsold in a judicial auction held from November 25 to 26, 2025 [1]. - Prior to this, 37.27 million shares (2.57% of total shares) were successfully auctioned for a total of 156 million yuan [1]. - A total of 95.67 million shares (6.59% of total shares) are subject to judicial auction, with 37.27 million shares sold, 43.4 million shares unsold, and 15 million shares scheduled for auction on December 2, 2025 [1]. Group 2: Financial Performance - The company's revenue has been declining, with figures of 5.189 billion yuan in 2022, 3.945 billion yuan in 2023 (down 23.96%), and 2.857 billion yuan in 2024 (down 27.58%) [3]. - Net profit has also decreased significantly, from 197 million yuan in 2022 to 71.985 million yuan in 2024, marking a decline of 80.64% and 39.19% respectively [3]. - For the first three quarters of 2025, the company reported revenue of 1.894 billion yuan (down 13.43%) and a net profit of 144 million yuan (down 39.23%) [3]. Group 3: Company Overview - Jinjia Group specializes in the production and sale of premium paper packaging, laser paper/membrane, electronic materials, and new tobacco products [2].

Core Viewpoint - The announcement reveals that the controlling shareholder of Jinjia Co., Ltd. has auctioned 37.27 million shares, accounting for 2.57% of the total share capital, for a total of 156 million yuan, without affecting the company's control or governance structure [1][3]. Group 1: Auction Details - The auction took place on November 17-18, 2025, on JD.com’s judicial auction platform, with a total transaction amount of 156 million yuan [1]. - The auction included 10 lots, with winning bids ranging from 15,430,968 yuan to 15,767,888 yuan [1][2]. - The winning bidders included individuals and Zhejiang Hangmin Keer Textile Co., Ltd. [2]. Group 2: Shareholding Changes - Following the auction, the controlling shareholder's stake will decrease from 31.90% to 29.33%, while the combined stake of the controlling shareholder and its concerted parties will drop from 34.62% to 32.05% [3]. - The company has additional shares (58.4 million) that may also be subject to judicial enforcement, representing 4.02% of the total share capital [3]. Group 3: Company Performance - Jinjia Co., Ltd. has experienced a decline in net profit over three consecutive years, with decreases of 80.64%, 40.03%, and 39.19% from 2022 to 2024 [3]. - For the first three quarters of 2025, the company reported revenue of 1.894 billion yuan, a year-on-year decline of 13.43%, and a net profit of 144 million yuan, down 39.23% year-on-year [3]. - The company's stock price was reported at 4.62 yuan per share, with a total market capitalization of 6.707 billion yuan as of November 18 [4].