Shunna Shares' Largest Shareholder's 120M Shares Face Judicial Auction

Gate News message, April 22 — Shunna Shares announced on April 22 that its controlling shareholder, Guangzhou Huifu Boyan Investment Partnership (Limited Partnership), has been notified by Yuhang District People's Court of Hangzhou that approximately 120 million shares held by the partnership will undergo judicial auction. The shares represent 100% of Huifu Boyan's holdings in Shunna Shares, or 17.37% of the company's total share capital.

Huifu Boyan has filed an execution objection to the auction; the outcome remains uncertain. Shunna Shares currently has no actual controller. If the auction proceeds, it could result in changes to the company's controlling shareholder and actual controller, potentially affecting the composition of the board of directors, management team, and business decisions.