I'm LongbridgeAI, I can summarize articles.Ningbo Zhongbai received an enforcement ruling from the Intermediate People's Court of Qingdao City, Shandong Province on December 25, 2024. Due to the failure of the respondent to fulfill legal obligations, the court has sealed and frozen the property involved in the case. The case has entered the enforcement procedure, ruling to auction 35,405,252 unrestricted circulating shares of Ningbo Zhongbai held by Tibet Zetian Investment Development Co., Ltd. and 18,884,000 unrestricted circulating shares held by Zhu Renbao
According to the Zhitong Finance APP, Ningbo Zhongbai (600857.SH) announced that on December 25, 2024, it received the execution ruling (2022) Lu 02 Zhi 924 No. 22 from the Intermediate People's Court of Qingdao City, Shandong Province. The criminal judgment (2016) Lu 02 Xing Chu 148 made by the Intermediate People's Court of Qingdao City, Shandong Province has become legally effective. Due to the failure of the person subject to enforcement to fulfill the obligations determined by the effective legal document, the property portion of the criminal judgment has been transferred for execution.
The investigation agency has sealed and frozen the property involved in the case. After the case was transferred for trial, the Intermediate People's Court of Qingdao City, Shandong Province continued to implement sealing and freezing measures. The case has now entered the execution procedure. In accordance with Articles 255 and 258 of the Civil Procedure Law of the People's Republic of China and Articles 5, 12, and 16 of the Several Provisions of the Supreme People's Court on the Execution of Property Portions of Criminal Judgments, the following ruling is made: auction registration of 35,405,252 unrestricted circulating shares of the listed company Ningbo Zhongbai (stock code: 600857) held by the registered owner Tibet Zetian Investment Development Co., Ltd.; and 18,884,000 unrestricted circulating shares of the listed company Ningbo Zhongbai (stock code: 600857) held by the registered owner Zhu Renbao