Jinjia Venture Faces New Judicial Auction, Control Unchanged

Key Points

• Nanshan Court to auction 43.4 million Jinjia Venture shares; Shenzhen Intermediate Court earlier announced 37.27 million.

• Combined auctions involve about 80.67 million shares, or 5.56% of total equity.

• Jinjia Venture’s holdings may drop from 31.90% to 26.34% if all auctions conclude.

• Company states control and operations remain unaffected; proceedings are still in the public notice stage.

Jinjia Group announced that its controlling shareholder, Shenzhen Jinjia Venture Investment Co., Ltd. (Jinjia Venture), will have part of its holdings auctioned by the Shenzhen Nanshan District People’s Court, involving about 43.4 million shares. Earlier, the Shenzhen Intermediate People’s Court announced another auction of 37.27 million shares. Together, the two auctions cover about 80.67 million shares, or 5.56% of Jinjia’s total equity. The company said these judicial auctions will not affect its control structure or operations.

Nanshan Court to Auction 43.4 Million Jinjia Shares

On October 22, Jinjia Group (Stock Code: 002191) disclosed that its controlling shareholder, Jinjia Venture, received a notice from the Shenzhen Nanshan District People’s Court regarding a judicial auction of part of its holdings.

The auction involves 43.4 million shares, representing 9.37% of Jinjia Venture’s holdings and 2.99% of Jinjia Group’s total shares. It is scheduled from November 25 to 26, 2025, on JD.com’s judicial auction platform.

The auction arises from a loan dispute between China CITIC Bank Shenzhen Branch and Jinjia Venture and its affiliates. The shares had previously been frozen by the court.

If completed, Jinjia Venture’s stake will decrease from 31.90% to 26.34%, and its combined holdings with acting-in-concert parties will fall from 34.62% to 29.06%. Jinjia emphasized that the auction will not lead to a change in control or materially impact corporate governance and operations.

Shenzhen Intermediate Court Previously Announced Auction of 37.27 Million Shares

Earlier, on October 15, Jinjia Group announced that the Shenzhen Intermediate People’s Court planned to auction 37.27 million shares held by Jinjia Venture.

This represents 8.05% of Jinjia Venture’s holdings and 2.57% of the company’s total equity. The auction, linked to a loan dispute with Zhejiang Commercial Bank’s Shenzhen Branch, is scheduled from November 17 to 18, 2025.

Both auctions are currently in the public notice stage, and results such as bidding, payment, or ownership transfer remain uncertain.

Combined Auctions Involve Over 80 Million Shares

If both auctions proceed successfully, a total of 80.67 million Jinjia Venture shares—about 17.42% of its holdings and 5.56% of Jinjia Group’s total equity—will be sold.

Jinjia noted that an additional 15 million shares may also face enforcement actions. The company said it will continue to monitor developments and disclose updates in accordance with regulatory requirements.