On the evening of September 19, Zhonglu Co.,Ltd. (SH600818, stock price 10.47 yuan, market value 3.366 billion yuan) disclosed that its largest shareholder, Shanghai Zhonglu (Group) Co., Ltd. (hereinafter referred to as Zhonglu Group), has encountered a new development where all of its holdings have been subject to two sequential asset freezes due to a share buyback dispute. The freezing applicant is Suqian City Development Investment Co., Ltd.
According to the announcement, Zhonglu Group holds 22.6583 million shares of Zhonglu Co.,Ltd., representing 7.05% of the company's total share capital. As of September 18, Zhonglu Group still has 21.8094 million shares of the company's stock in pledged status, accounting for 96.25% of its current shareholding and 6.78% of the company's total share capital.
From the overall perspective of share freezing and marking, Zhonglu Group's holdings have been cumulatively frozen at 19.8225 million shares, representing 87.48%, and cumulatively marked at 2.8358 million shares, representing 12.52%.
The board of directors of Zhonglu Co.,Ltd. stated in the announcement that as of now, the company's controlling shareholder and actual controller are experiencing debt default situations. Currently, all bank accounts of Zhonglu Group have been frozen, and its financial situation faces significant uncertainty. Additionally, the judicial freezing of the controlling shareholder's company shares has not had a major impact on the company's governance structure.
Regarding the subsequent impact of this shareholder share freezing on the company, Zhonglu Co.,Ltd. indicated that in the future, if the controlling shareholder's company shares are subject to judicial disposal, it may lead to changes in the company's actual control rights. Zhonglu Group is actively negotiating with relevant parties to address the share freezing matter.
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