Xinming Life Science and Technology (00474.HK) pledged shares were forced to be sold for 1.385 billion shares.

Zhitong Finance APP News, Sin Ming Life Technology (00474.HK) announced that its indirectly wholly-owned subsidiary, Haotian Management (Hong Kong) Limited (Haotian Management), received a securities brokerage notification that a total of 1.385 billion shares of Haotian International Construction Investment Group Limited (stock code: 1341) (Haotian International Construction Investment) (selling shares) were forcibly sold by a third-party independent lender exercising its selling rights under a mortgage agreement signed by Haotian Management, after the lender declared a default event and granted the company a mortgage financing of 150 million Hong Kong dollars. The selling shares were sold in the market at an average price of 0.37855 Hong Kong dollars per share, with the total proceeds of approximately 524 million Hong Kong dollars.