According to Yongyue Technology's announcement, Jiangsu Huaying Enterprise Management Co., Ltd., the controlling shareholder of the company, was auctioned and sold by the Nanjing Intermediate Court for 16 million unrestricted tradable shares due to failure to execute the settlement agreement, and will be publicly auctioned through the JD.com Judicial Auction Platform. The reserve price for the first auction was 95% of the average closing price of the 20 trading days before the auction multiplied by the number of shares. As of the disclosure date, Jiangsu Huaying held a total of 586.595 million shares of the company, accounting for 16.32% of the company's total share capital. This auction may cause changes in the company's controlling shareholders and actual controllers.