Shanzi Hi-Tech announced that 120 million shares of the company's shares in the company's bankrupt enterprise asset disposal account have been publicly auctioned and registered, with a total transaction amount of 293 million yuan. After deducting necessary taxes and fees, the disposal proceeds will be used to supplement the company's working capital. This auction did not result in changes in the company's controlling shareholders or actual controllers, and did not affect the company's control, production and operation. As of the disclosure date of the announcement, the special account held 134 million shares remaining, accounting for 1.34% of the total share capital. The company will follow up on subsequent disposal arrangements and fulfill disclosure obligations.

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