According to Hengshen New Materials's announcement, 15.84 million shares of the company's shares held by Qingdao Changsheng Nippon Electric New Energy Holdings Co., Ltd., which holds more than 5% of the company's shares, were judicially auctioned. Of these, 8 million shares were auctioned, with a total transaction amount of 63.76 million yuan, accounting for 1.17% of the company's total share capital; the remaining 7.84 million shares were auctioned. If the auction shares are transferred, the number of shares held by Qingdao Changsheng will drop to 55.38 million shares, or 8.07%. Qingdao Changsheng is not a controlling shareholder of the company. This auction will not lead to a change in the company's actual control rights, nor will it have a significant adverse impact on the company's production and operation. There is uncertainty about the subsequent transfer of shares in this auction, and there is a possibility that the live stock will be auctioned again.

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