Holly Futures shareholder Hongsu Industrial's 19.1349 million shares in the company will be subject to judicial enforcement
HOLLY FUTURES announced that 19.1349 million shares of the company held by its shareholder Jiangsu Hongsu Industrial Co., Ltd. will be enforced by the Intermediate People's Court of Shenzhen, Guangdong Province. This action stems from a contractual dispute with Shanghai Gangtong Phase I Investment Partnership, and the court has ruled to change the price, auction, or sell 32.3654 million shares held by Hongsu Industrial. To date, 19.1349 million shares remain unexecuted, and a change in shares is expected to occur
According to the Zhitong Finance APP, Holly Futures (03678) announced that Jiangsu Hongsu Industrial Co., Ltd. (hereinafter referred to as "Hongsu Industrial"), a shareholder holding 19.1349 million shares (approximately 1.8987% of the company's total share capital) of Suhao Holly Futures Co., Ltd. (hereinafter referred to as "the Company"), has learned that the Intermediate People's Court of Shenzhen, Guangdong Province has issued the (2025) Yue 03 Zhi 580 No. 1 "Execution Ruling," ruling for the compulsory execution of the shares held by Jiangsu Hongsu Industrial Co., Ltd. in the Company.
Due to a contractual dispute between Shanghai Gangtong Phase I Investment Partnership (Limited Partnership) (hereinafter referred to as "Gangtong Phase I") and Hongsu Industrial and other parties, Gangtong Phase I applied to the Intermediate People's Court of Shenzhen, Guangdong Province for compulsory execution. The Intermediate People's Court of Shenzhen, Guangdong Province lawfully issued the (2025) Yue 03 Zhi 580 No. 1 "Execution Ruling," ruling for the conversion, auction, and sale of 32.3654 million shares of Holly Futures held by Hongsu Industrial. To execute the aforementioned judicial compulsory execution plan, the Company issued a notice on July 25, 2025, titled "Notice on the Possible Judicial Compulsory Execution of Some Shares Held by Shareholders." After the announcement, Hongsu Industrial made changes to its shares through centralized bidding and block trading, executing a total of 13.2305 million shares under the (2025) Yue 03 Zhi 580 case. As of now, there are still 19.1349 million shares remaining that have not been executed in the aforementioned "Execution Ruling." This judicial compulsory execution plan intends to sell and dispose of the unexecuted portion of the shares in the aforementioned "Execution Ruling," resulting in changes to the shares held by Hongsu Industrial in the Company
