Shanshan Holdings' shares face judicial disposal

Ningbo Shanshan has announced that 4,260,200 shares held by its indirect controlling shareholder, Shanshan Holdings, are subject to judicial disposal via auction, as ruled by the Shanghai Pudong New District People's Court. The shares represent 8.51% of Shanshan Holdings' stake and 0.19% of Ningbo Shanshan's total share capital. These shares were acquired through a non-public offering in 2016 and became tradable in 2019. Shanshan Holdings' stake would decrease to 1.46% if the disposal and previously announced disposals are completed. The company emphasizes that current operations are not expected to be impacted.