ST Lingnan: Shareholder's judicial auction of shares fails to sell

ST Linnan Announcement: Mr. Yin Hongwei, a shareholder holding over 5% of the company's shares, offered 70 million shares of the company's stock for auction on the JD.com judicial auction platform on May 20th to 21st, 2025, but the auction was unsuccessful due to lack of bids. As of May 21st, 2025, Mr. Yin Hongwei holds 273 million shares of the company, accounting for 14.99% of the total share capital. The unsuccessful judicial auction will not have a significant adverse impact on the company's production and operation, nor will it lead to a change in the company's control rights.