Changyuan Group announced that the company received an enforcement ruling from the Nanshan District Court. Since an outsider filed an enforcement objection against 30% of the 106 million company shares held by Wu Qiquan, a shareholder holding 5% or more of the shares, the court decided to auction and sell 70% of the unlimited tradable shares of the company held under Wu Qiquan's name, or 74.704 million shares, to settle the debt. As of the disclosure date, Wu Qiquan held 106 million shares of the company, accounting for 8.02% of the company's total share capital. The company has no controlling shareholders or actual controllers. The current share enforcement will not lead to a change in the company's control and will not have a significant impact on the company's production and operation. The company has not yet received the court's “Notice of Auction” and will continue to monitor progress and fulfill its obligation to disclose information.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.