Huasheng Tianlong: Second largest shareholder's shares face auction

Jiangsu Huasheng Tianlong Photoelectric (SZSE:300029) has disclosed that 20 million shares owned by its second-largest shareholder, Changzhou Noah Technology, representing 9.97% of the total share capital, will be auctioned via an online judicial auction. The auction represents 84.07% of Changzhou Noah's holdings in Huasheng Tianlong. This action stems from a loan contract dispute involving Changzhou Noah, where China Industrial and Commercial Bank's Jintan branch is seeking asset recovery through court order. If the auction is completed, Changzhou Noah's stake in Huasheng Tianlong will decrease from 11.86% to 1.89%. The company has stated that its operations remain normal and that it will continue to monitor the situation and disclose relevant information as required.