Beijing Jetsen Technology's controlling shareholder faces share auction

Beijing Jetsen Technology's controlling shareholder and actual controller, Xu Ziquan, will have 130,000,000 of his company shares auctioned off. This represents 34.21% of his total holdings and 4.88% of the company's total share capital. The auction, scheduled from December 30 to December 31, 2025, on the JD.com judicial auction platform, is a result of a dispute involving Xu and Bohai International Trust Co., Ltd.

The company confirmed that as of the announcement date, there are no non-operating fund occupations or illegal guarantees by the controlling shareholder. Operations remain normal, and the auction is not expected to significantly affect Beijing Jetsen Technology's production, operations, or corporate governance.

The auction is currently in the public notice phase, and the final outcome, including whether the shares are successfully sold, remains uncertain. The company will monitor developments and fulfill its information disclosure obligations. Buyers will be subject to lock-up periods, prohibiting sales for six months post-acquisition.