Time Publishing And Media Co., Ltd.: The company's indirect shareholding ratio in JD Technology is extremely low
Time Publishing And Media Co., Ltd. issued a statement clarifying that its indirect shareholding in JD Technology is very low, only 0.84%. The fund established by the company in 2018 holds shares in JD Technology, but the investment principal is gradually exiting, and the shareholding ratio will further decrease. In addition, Time Publishing And Media Co., Ltd. has no other business connections with JD Technology, and its main business is book publishing, which does not involve stablecoin business
According to the announcement from Time Publishing And Media Co., Ltd. (600551.SH), the company's A-share stock has experienced a cumulative closing price deviation of over 20% for three consecutive trading days on June 17, June 18, and June 19, 2025. In accordance with the "Shanghai Stock Exchange Trading Rules," the company's stock trading falls under abnormal fluctuation circumstances.
After the company conducted a self-inspection and verified with its controlling shareholder, Anhui Publishing Group Co., Ltd., there are no significant matters that should have been disclosed but were not.
Recently, the company has noticed market interest regarding whether it holds shares in JD Technology Holdings Co., Ltd. (hereinafter referred to as "JD Technology") and whether it is engaged in stablecoin business. According to relevant media reports, JD Technology's wholly-owned subsidiary, JD Coin Chain Technology (Hong Kong) Co., Ltd., is involved in stablecoin business.
In 2018, the company invested 137.8 million yuan (of which 130 million yuan was for fund shares and 7.8 million yuan for management fees) to participate in the establishment of Suqian Dongrui Yingtai Equity Investment Partnership (Limited Partnership), which specifically invests in JD Technology. The initial shareholding ratio was 0.84%. The company's shareholding ratio in this fund is 10%, and its indirect shareholding ratio in JD Technology is very low. Currently, the company's invested principal is gradually exiting, and the interest generated from the invested principal will be converted into JD Technology shares held by the fund, resulting in a reduced shareholding ratio compared to the previous period. In addition, the company has no other business connections with JD Technology, and this investment does not affect the company's production and operations. The company's main business is related to book publishing and does not involve stablecoin business
