Jinke Services (09666): The major shareholder Jinke Real Estate will publicly auction 108 million shares of the company, reducing its stake to 9.24%.

JINKE SERVICES (09666) announced that the Board of Directors was informed on February 13, 2025 that the company's major shareholder, Jinke Real Estate Group Co., Ltd. (Jinke Real Estate), which beneficially owns 108 million shares of the company, will be publicly auctioned by the liquidator appointed by Jinke Real Estate under the supervision of the Fifth Intermediate People's Court of Chongqing in accordance with the People's Republic of China Enterprise Bankruptcy Law and other applicable laws and regulations to settle the debt owed by Jinke Real Estate to Broad Gongga Investment Pte. Ltd. The shares being auctioned were previously pledged by Jinke Real Estate to Broad Gongga Investment Pte. Ltd. (a creditor of Jinke Real Estate and a controlling shareholder of the company). Following the auction, Jinke Real Estate's shareholding in the company will be reduced to 55.18 million shares, representing approximately 9.24% of the total issued share capital of the company as of the date of this announcement. The Board of Directors expects that the auction will not have any adverse impact on the company's operations.