According to Shenwu Energy's announcement, the third judicial auction of 33 million shares held by Shenwu Group, the shareholder of the company holding more than 5% of the shares, which were restricted after initial sale, was held by the Beijing First Intermediate People's Court from August 24 to 25, 2026. The auction has already been auctioned off. The shares have been judicially frozen and are awaiting freezing. Shenwu Group has not yet fulfilled its 2016 major asset restructuring performance compensation promise. If the auction is completed, the buyer must assume corresponding obligations according to the shareholding ratio. This broadcast will not have a significant impact on the normal operation and governance of the company, and there is a possibility that this portion of the shares will be transferred judicially.

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