Wanma Technology Co., Ltd. announced that 100,000 shares held by shareholder Yan Nan, representing 0.07% of the company's total share capital, will be publicly auctioned on the Taobao judicial auction platform by the Lin'an District People's Court of Hangzhou, Zhejiang Province, from 10 a.m. on September 15, 2026, to 10 a.m. on September 16, 2026. These shares are restricted shares from his departure and are pledged. As of the announcement date, Yan Nan holds 2.4 million shares, representing 1.79% of the company's total share capital, and all of his shares have been judicially re-frozen and pledged, totaling 2.4 million shares, or 100% of his holdings. Of these, 2.3 million shares have completed judicial auction but have not yet been transferred, and 100,000 shares are in the auction process described in this announcement. Yan Nan has previously completed the transfer of 4.3 million shares. Yan Nan is not a controlling shareholder, actual controller, or a shareholder holding more than 5% of the company, nor does he hold any position in the company. This auction will not lead to a change in company control. The company stated that the auction is still in the announcement stage, and final completion remains uncertain.
Wanma Technology Co LtdShareholder's shares being auctioned due to pledge and judicial freeze may signal financial distress, potentially affecting stock sentiment.
