Judicial Auction Relaunched: 10.53% Stake in ST Cubic Awaits New Owner

Deep News11-18

On November 18, ST Cubic (300344) announced that 67.56 million shares (10.53% of total equity) held by major shareholder Fan Li will undergo a second judicial auction at Beijing Financial Court from December 11 to 12, 2025. The initial auction on October 1, 2025, failed due to lack of bids.

The shares being auctioned represent Fan Li's pre-IPO holdings. If successful, Fan Li's stake will shrink to 3,151 shares (0.0005% of total equity). Combined holdings of Fan Li and his concerted party Fan Zhi will drop from 138 million shares to 70.27 million shares, reducing their total ownership to 10.95%.

Fan Li is neither the controlling shareholder nor actual controller, ensuring the auction won't trigger changes in corporate control or disrupt normal operations.

In the first three quarters of 2025, ST Cubic reported revenue of 203 million yuan with a net loss attributable to shareholders of 62.21 million yuan.

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