Jason Furniture shareholder faces forced asset sale

** Jason Furniture Hangzhou (SSE:603816) announced that Gujia Group Co., Ltd., a shareholder holding over 5% of the company's shares, will have 14,700,000 shares compulsorily auctioned, representing 1.79% of Jason Furniture's total share capital. The shares are currently frozen, and the judicial auction is initiated by the Hangzhou Intermediate People's Court. The auction will be split into three tranches: two offerings of 5,000,000 shares each and one of 4,700,000. Gujia Group currently holds 12.55% of Jason Furniture. The auctions are scheduled to begin March 27, 2025 and are being conducted online. Jason Furniture noted that this event will not change company control.