CPT Technology Group shareholder faces forced share reduction

CPT Technology Group announced that its shareholder, Chung Hwa Picture Tubes (Bermuda) Ltd., holding 251,389,715 shares (9.09% of total share capital), will have 10,000,000 shares (0.36% of total share capital) passively reduced. This reduction will occur via concentrated bidding within three months starting the next trading day after the announcement.

The forced sale stems from a financial loan dispute between Chung Hwa Picture Tubes (Bermuda) and China Railway Trust Co., Ltd., leading to a court order from the Shenzhen Intermediate People's Court. The shares were previously pledged to China Railway Trust Co., Ltd. in 2017 and 2018.

The company clarifies that Chung Hwa Picture Tubes (Bermuda) Ltd. is not its controlling shareholder or actual controller. This passive share reduction will not alter the company's control, governance structure, or ongoing operations.