Dr. Peng Group equity stake reduced by auction

Dr. Peng Telecom & Media Group (SSE:600804) has announced a change in its equity structure. A judicial auction resulted in the disposal of 55,280,000 shares previously held by Shenzhen Juyuan Investment Co., Ltd., an affiliated company. The sale has reduced the total shareholding of Shenzhen Juyuan Investment and its parties acting in concert from 25.28% to 21.95%. While the holding has decreased, the company has stated they have no intention to make further change in equity in the following 12 months. Shenzhen Juyuan Investment confirmed it possesses shares in several other companies including Shenzhen Pengbo Industrial.