DCWT (03768): The judicial auction of 2.455 billion shares held by the controlling shareholder Kunming Dianchi Investment has been unsuccessful.

DCWT (03768) announced that the controlling shareholder Kunming Dianchi Investment Co., Ltd. (Kunming Dianchi Investment) holds 2.455 billion shares of the company (approximately 23.86% of the total shares) which will be auctioned on the Alibaba network judicial auction platform (https://sf.taobao.com/) on June 6, 2024, from 10 am to June 7, 2024, 10 am for the first auction, on June 23, 2024, from 10 am to June 24, 2024, 10 am for the second auction, and from July 25, 2024, from 10 am to September 23, 2024, 10 am for judicial sales. According to the information on the auction platform, both the first and second judicial auctions have ended with no successful bids. According to the information on the auction platform after the deadline of the judicial sale on September 23, 2024, there were no bids and the judicial sale has ended without success. As of the date of this announcement, Kunming Dianchi Investment holds 6.6 billion shares of the company's domestic stock (approximately 64.16% of the total shares), all of which are pledged/judicially frozen. The company will continue to assess and follow up on any significant developments regarding the judicial sale, and will make further announcements at the appropriate time.