HUIFENG: The court ruled to auction 89.5 million shares of equity

HUIFENG announced that the company has received an enforcement ruling from the Nanjing Intermediate People's Court regarding a securities false statement liability dispute. According to the civil judgment from the Jiangsu Provincial High People's Court, the company has not fulfilled its judgment obligations, and the Nanjing Intermediate Court has initiated enforcement. The ruling involves the assessment and auction of HUIFENG's 89.5 million shares in Shaanxi Yangling Rural Commercial Bank Co., Ltd. The company stated that it has fully accrued the compensation, attorney fees, and case acceptance fees related to the judgment, and this ruling will not affect the company's normal operations and profits. The company has no other undisclosed significant litigation or arbitration matters