Controlling Shareholder of CHENMING PAPER Plans Judicial Auction of Partial Stake

Zhitong Finance APP reports: CHENMING PAPER (01812) announced that it recently received a letter from its controlling shareholder, Chenming Holdings, informing the company that approximately 21.2006 million A-shares held by Chenming Holdings are planned for judicial auction.

As of the date of this announcement, Chenming Holdings holds 799,086,869 shares of the company. If all shares subject to this judicial auction are successfully sold and transferred, Chenming Holdings' shareholding in the company will decrease from 799,086,869 shares to 777,886,286 shares, and its proportion of the total share capital will drop from 27.17% to 26.45%. The aforementioned judicial auction will not result in a change of control over the company, nor will it have any significant adverse impact on the company's corporate governance structure or ongoing operations.