Jason Furniture shareholder's auction fails; second attempt scheduled

Jason Furniture Hangzhou [SSE:603816] announced that the initial judicial auction of 29,324,717 shares held by shareholder Gujia Group, representing 3.57% of the company's total share capital, did not result in a sale. As a result, a second auction for the same block of shares will take place from July 21 to July 22, 2025. Gujia Group currently holds 103,171,483 shares, or 12.55% of Jason Furniture, all of which are frozen. The company emphasized that this auction will not change the company's control, as Gujia Group is not the controlling shareholder, and that operations will continue unaffected. Investors are advised to exercise caution due to uncertainties with auction results.