Harmontronics: Shares of controlling shareholder frozen

Suzhou Harmontronics Automation Technology (SSE:688022) announced that shares held by its controlling shareholder, Harmontronics Investment, have been judicially frozen. This involves approximately 2.62 million shares, representing 1.48% of the company's total share capital. Concurrently, the equity stakes in Harmontronics Investment, Harmontronics Dehe, and Harmontronics Zhiyuan, held by actual controller Cai Changwei, have also been frozen, indirectly affecting 17.69% of the company's total equity. The primary reasons stem from litigation involving Cai Changwei and Harmontronics Investment, as well as personal debt disputes of Cai Changwei. The company states its operations remain normal, but control stability could be affected if the court rules against the involved parties. Harmontronics is closely monitoring the situation and will disclose further updates.