Xuanji Information announced that 55.18 million shares held by its controlling shareholder and actual controller, Chen Jiangtao, will be auctioned by the court, accounting for 3.19% of the company's total share capital. The auction is scheduled for August 20 to 21, 2026, and will be executed by the Intermediate People's Court of Yibin City, Sichuan Province. The auction stems from Chen Jiangtao's substantial overdue debts and related litigation, but the company stated there is no non-operational capital occupation or irregular guarantees, and it will not lead to a change in actual controller for now. As of the announcement date, Chen Jiangtao and his concert parties hold a total of 151 million shares, representing 8.73% of the total share capital, of which 58.18 million shares are pledged, 89.44 million shares are under judicial freeze, and 676 million shares are under pending freeze. Xuanji Information has reported losses for six consecutive years, with cumulative losses of nearly 3 billion yuan. In the first quarter of 2026, revenue fell 44.48% year-on-year to 263 million yuan, with a net loss attributable to the parent company of 30.47 million yuan. The latest share price is 3.88 yuan, down 35% for the year.
Beijing Watertek Information Technology Co LtdControlling shareholder's shares auctioned due to debts, company has persistent losses and declining revenue.