Sichuan Jinding's major shareholder's half stake will be subject to judicial auction, with starting price approximately 80% of the market value.

Recently, Sichuan Jinding (600678) learned via public online channels that the Intermediate People’s Court of Shenzhen will conduct a public auction on a judicial auction network platform from 10:00 on May 12, 2026 to 10:00 on May 13, 2026 (excluding any delays), involving a portion of the equity held by the company’s controlling shareholder, Shenzhen Puci Zhichun Investment Enterprise (Limited Partnership) (hereinafter referred to as “Puci Zhichun”).

Specifically, in this judicial auction, the portion involves 35.77 million shares of unrestricted tradable shares held by Puci Zhichun, accounting for 10.25% of the company’s total issued share capital. The above-mentioned 35.77 million shares to be auctioned have been divided into 10 lots; each lot has a starting bid price of RMB 30.2528 million, equivalent to RMB 8.46 per share.

Secondary-market data shows that on March 27, Sichuan Jinding closed at RMB 10.7 per share, up 1.23%. In other words, the starting bid price for this judicial auction is approximately 80% of the company’s current secondary-market share price.

For this judicial auction of the above equity, the bid deposit is RMB 6.05 million, an increase of RMB 151,000. At present, the judicial auction matter is still in the publicity stage. The subsequent process will involve steps such as bidding, payment, and transfer of the shares, and there remains uncertainty regarding the auction results. Currently, the proposed judicial auction shares are all under judicial freeze.

As of the date of the announcement, Puci Zhichun holds a total of 71.5535 million shares of Sichuan Jinding, all being unrestricted tradable shares, accounting for 20.5% of the company’s total issued share capital. The shares proposed to be auctioned account for 50% of the company shares it holds. If the auction is successful and the equity transfer is completed, the controlling shareholder Puci Zhichun’s total holdings of the company’s shares will decrease and change to 35,776,742 shares, which is expected to account for 10.25% of the company’s total issued share capital.

Sichuan Jinding stated that this auction matter will not affect the company’s production and operations, nor will it cause the company’s shareholding distribution to fail to meet the listing requirements. If the shares involved in this auction are successfully auctioned and judicial transfer is completed, the company’s controlling shareholder and actual controller will not change at present, but there is uncertainty regarding any subsequent changes to the controlling shareholder and actual controller. The company will closely monitor the progress of this auction matter.

Sichuan Jinding’s主营业务 is the extraction, processing, and product sales of non-metallic minerals. Currently, the company has formed an industrial layout covering limestone extraction, processing, product sales, and warehousing and logistics. Among them, the limestone mine is a core asset owned by the company. Previously disclosed performance guidance shows that Sichuan Jinding expects to realize attributable net profit for full-year 2025 of approximately RMB 10.5 million to RMB 15.5 million; after deducting non-recurring items, net profit is expected to be approximately RMB 5.0 million to RMB 7.5 million.

It is worth noting that in February this year, due to a work adjustment, Liang Fei, the former chairman of Sichuan Jinding, applied to no longer serve as the company’s chairman, but will continue to serve as a director and chairman of the board’s strategy committee. At the same time, Zhao Zhibin was elected as the new chairman of the company.

According to his resume, Zhao Zhibin has served as general manager, legal representative, and executive director of Shenzhen Weilongxing Industrial Co., Ltd., and general manager of Shenzhen Qianhai Feisheng Investment Co., Ltd. He currently serves as general manager of Shenzhen Feisheng Investment Holding Group Co., Ltd., general manager of Shenzhen Qianhai Feisheng Financial Holding Co., Ltd., chairman of Shenzhen Qiuyechan Private Equity Fund Management Co., Ltd., and executive director and general manager of Shenzhen Qianhai Feisheng Huijin Investment Management Co., Ltd.

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