Stock School: 31.9454 Million Shares Of The Controlling Shareholder Of Shanshan Shares Were Disposed Of By The Judiciary

On February 27, Ningbo Shanshan Co., Ltd. issued a suggestive announcement on the judicial disposal of some shares held by the controlling shareholder and the change of * * *. According to the announcement, the company recently received a notice from Guotai Jun'an, the securities firm where the credit account of Shanshan Group is located, that 31945400 shares (1.42% of the total capital stock) of the company held by the credit account of Shanshan Group were subject to judicial disposal through centralized bidding and block trading from February 24 to 25, 2025 because Guotai Jun'an was required by the court to assist in judicial execution.

It is reported that this * * * change is caused by Guotai Jun'an Securities Co., Ltd. being requested by the Qingdao Intermediate People's Court of Shandong Province to assist in judicial enforcement and judicial disposal of the above shares held in the credit account of Shanshan Group. It does not touch the tender offer, nor will it lead to changes in the company's control.