---
title: "ST VANFUND: The company faces risks of changes in controlling shareholders, actual controllers, or the absence of actual controllers"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262768931.md"
description: "ST VANFUND announced that the cumulative deviation value of the closing price increase of the company's stock over three consecutive trading days is 14.57%, triggering an abnormal trading fluctuation. The major shareholder WanFangYuan faces the risk of losing its status as the largest shareholder due to the failure of stock auction, which may lead to a change in the controlling shareholder or actual controller, or the absence of an actual controller"
datetime: "2025-10-26T09:51:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262768931.md)
  - [en](https://longbridge.com/en/news/262768931.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262768931.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/262768931.md) | [繁體中文](https://longbridge.com/zh-HK/news/262768931.md)


# ST VANFUND: The company faces risks of changes in controlling shareholders, actual controllers, or the absence of actual controllers

\*ST VANFUND announced on October 26 that the cumulative deviation value of the closing price increase over three consecutive trading days was 14.57%. According to Article 5.4.3 of the "Shenzhen Stock Exchange Trading Rules," ST and \*ST main board stocks with a cumulative daily closing price fluctuation deviation value reaching ±12% over three consecutive trading days are considered to be in a state of abnormal stock trading volatility. On October 10, 2025, the company's major shareholder WanFangYuan received the "Execution Ruling," as the two auctions of the 90,860,000 shares of the company's stock held by WanFangYuan both ended in failure. JiuTai Rural Commercial Bank applied to the Changchun Intermediate Court to accept the property at the reserve price set for the second auction of the 90,860,000 shares held by WanFangYuan to offset debts. After the transfer of the above shares is completed, WanFangYuan will lose its status as the largest shareholder of the company and will no longer hold any shares in the company, posing a risk of changes in the controlling shareholder, actual controller, or the absence of an actual controller

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