Jiajia Food's major shareholder faces ongoing bankruptcy review

Jiajia Food Group Co., Ltd. (SZSE:002650) announced that the bankruptcy review of its controlling shareholder, Zhuoyue Investment, is still underway. The application was filed by Wanxiang Trust with the Ningxiang City People's Court in Hunan province. As of the announcement date, no new progress has been recorded on the National Enterprise Bankruptcy and Reorganization Case Information Network. Zhuoyue Investment holds 216,419,200 shares of Jiajia Food, representing 18.79% of the total share capital, all of which are non-restricted shares. The company has cautioned investors that the court's acceptance of the bankruptcy application remains uncertain, and the ownership of its controller may change in the future. China Orient Asset Management has become the largest shareholder following a completed judicial auction of 23.42% of the company's shares.