*ST Development announced that 31.5 million shares of the company held by Caixin Real Estate, the controlling shareholder of the company, will be publicly auctioned by Caixin Group managers on the Alibaba Asset Auction Platform from October 8 to October 9, 2026. The reason for the auction was a judicial auction. If the auction is transferred, Caixin Real Estate's shareholding ratio will drop from 36.25% to 33.39%. There is no change in the controlling shareholder or actual controller of the company. Currently, it will not have a significant impact on the company's production and operation, but if other judicial auctions occur later, it may affect the company's control. This auction is still in the publicity stage, and the results are uncertain. As of the disclosure date of the announcement, all company shares held by Caixin Real Estate had been pledged and judicially frozen.

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.