Xi'an Qujiang share auction announced by controlling shareholder

Xi'an Qujiang Cultural Tourism has announced that 12 million of its shares, held by its controlling shareholder, Xi'an Qujiang Tourism Investment Group, are slated for auction. The auction, ordered by the Shaoxing Intermediate People's Court of Zhejiang Province, will be split into three lots of 4 million shares each. The auctions will be held online between August 4th and 5th, 2025, with each lot having an initial display price of CNY 2,830,800, a deposit of CNY 300,000, and a minimum price increase of CNY 20,000. The display price is calculated at 70% of the closing price per share on the day prior to the auction, while the starting price is calculated at 70% of the average closing price per share of the 20 trading days before August 4th, 2025. The company stated it has urged the debtor to resolve the underlying issue and safeguard the stability of its control. Xi'an Qujiang Cultural Tourism advises investors to refer to official announcements on the Shanghai Stock Exchange website and in the China Securities Journal.