Dasheng Times share auction fails due to lack of bids

Dasheng Times Cultural Investment (SSE:600892) announced that the auction of 17,094,082 shares, representing 50% of shareholder Xu Jinguang's holdings and 3.06% of the company's total share capital, was unsuccessful. The auction, held on the online platform JD.com from February 7-8, 2025, did not receive any offers. Xu Jinguang, who holds 6.11% of the company's shares, is not a controlling shareholder, and the failed auction will not affect the company's control or governance structure. The shares in question originated from a 2016 private placement. The company said it will continue monitoring the situation and fulfill its disclosure obligations as required.