ZOWEE: 12.48% of the company's shares held by the controlling shareholder and actual controller Xia Chuanwu will be auctioned off by judicial sale

ZOWEE announced that the company received a notice from its controlling shareholder and actual controller's spouse, Wei Shuting, that 70.7539 million shares held by Xia Chuanwu will be subject to judicial auction, accounting for 12.48% of the company's total share capital. If the auction is successful and the transfer is registered, Xia Chuanwu's shareholding in the company will decrease from 12.76% to 0.28%, which will result in a change of the company's actual controller. Currently, the company's production and operations are normal, and this judicial auction will not have a significant impact on the company's daily production and operations