Anhui Tatfook shareholder faces forced share sale due to dispute

Anhui Tatfook Technology announced that its major shareholder, Mr. Sun Shangchuan, will have 32,070,000 shares, representing 43.67% of his total holdings and 4.18% of the company's total share capital, judicially sold. This action stems from a contractual dispute, as per a ruling by the Bengbu City YuHui District People's Court.

As of the announcement date, Mr. Sun Shangchuan holds a total of 73,440,000 shares, equating to 9.57% of Anhui Tatfook's total share capital, all of which are currently frozen. The cumulative number of shares subject to forced sale now stands at 50,430,000 shares, or 6.57% of the company's total share capital.

Anhui Tatfook clarified that Mr. Sun Shangchuan is not the controlling shareholder or actual controller, and this judicial sale will not alter the company's control or impact its governance structure and ongoing operations. The company will monitor developments and fulfill its disclosure obligations.