RiseSun Real Estate shares to be judicially auctioned

RiseSun Real Estate Development (SZSE:002146) announced that 11,682,720 of its shares held by RongSheng Construction Engineering Co., Ltd., a concerted actor of its controlling shareholder RongSheng Holdings, will be auctioned through the Jingdong (JD.com) judicial auction platform. The auction, ordered by the Shijiazhuang Qiaoxi District People's Court of Hebei Province, is scheduled from May 8, 2025, at 10:00 to May 9, 2025, at 10:00 (with possible extension). The starting price is set at CNY 17,880,400, equating to CNY 1.53 per share. The shares represent 35.37% of RongSheng Construction's holdings and 2.69% of RiseSun Real Estate's total share capital. The company has stated that it will closely monitor the situation and fulfill its information disclosure obligations.