EGing Photovoltaic's controlling shareholder stake reduced after auction

EGing Photovoltaic Technology Co. Ltd. announced its controlling shareholder, Shenzhen Weizhi Energy Co. Ltd., saw its stake reduced from 12.67% to 8.45% following a judicial auction. On September 1, 2025, 50,000,000 unrestricted shares, representing 4.22% of the company's total share capital, were transferred via judicial auction. This change is considered a passive reduction and does not trigger a mandatory tender offer.

Prior to this, Shenzhen Weizhi Energy also experienced other passive reductions within the past six months. On May 9, 2025, 54,696,214 shares (4.62%) were judicially transferred as debt repayment, and on August 11, 2025, 50,000,000 shares (4.22%) were non-transactionally transferred to an individual. These prior changes were also due to judicial proceedings. The remaining 100,000,000 shares held by Shenzhen Weizhi Energy are subject to judicial freeze and await future transfer.

The company stated that this change does not currently alter the company's control. However, if the remaining judicially frozen shares are transferred, the company may face the risk of having no actual controller, which could significantly impact its corporate structure and operations. Acquirers of judicially auctioned shares are prohibited from reducing their holdings for six months following the transfer.