Golden Dragon completes share auction with multiple successful bids

Guangdong Golden Dragon Development Co., Ltd. announced the outcome of a judicial auction for 30 million shares held by its controlling shareholder, Dongguan New Century Education and Development Co., Ltd. The auction, conducted on the JD.com Judicial Auction Platform, involved ten separate lots of 3 million shares each.

Successful bidders included Chen Ruiyue, Wang Mei'er, Shi Youjun, and Chengdu Jinyao No. 1 Enterprise Management Partnership (Limited Partnership), which secured seven of the ten lots. Individual auction prices ranged from ¥36,834,450.00 to ¥39,334,450.00 for each 3 million-share lot. The total proceeds from these auctions amounted to ¥375,344,500.00.

The company emphasized that the final transfer of ownership is contingent on the successful bidders remitting outstanding balances and completing necessary legal procedures, with the Chongqing No. 5 Intermediate People's Court's ruling being the conclusive factor. While the auction is not expected to significantly impact the company's operations, Dongguan New Century Education and Development Co., Ltd. will remain the controlling shareholder, and Yang Zhimao will continue as the actual controller.