Ningbo Shanshan restricted shares to become tradable after auction

Ningbo Shanshan Co. Ltd. (SSE:600884) announced the upcoming listing and circulation of 29,580,000 restricted shares on November 27, 2025. These shares, originating from a private placement, were acquired through a judicial auction by Wei Wei. The shares were originally part of a 488,402,766 share private placement approved by the China Securities Regulatory Commission on November 9, 2021, with a lock-up period of 36 months.

The 29,580,000 shares, held by Ningbo Yinzhou Jielun Investment Co. Ltd., were subjected to a second judicial auction from August 25 to August 26, 2025. Wei Wei emerged as the successful bidder, and the shares were subsequently unpledged, unfrozen, and registered for non-transactional transfer by October 17, 2025.

Zhongtian Guofu Securities Co. Ltd., as the sponsor institution, confirmed that the listing and circulation of these restricted shares comply with relevant laws, regulations, and the Shanghai Stock Exchange rules. Yinzhou Jielun had committed to a 36-month lock-up period for its subscribed shares, and Wei Wei, as the transferee, is bound by this original commitment.