Wanma Technology announced that 100,000 shares held by shareholder Yan Nan will be auctioned by court order. The Lin'an District People's Court of Hangzhou, Zhejiang Province, will conduct a public auction on the Taobao judicial auction online platform from 10 a.m. on September 15, 2026, to 10 a.m. on September 16, 2026. These shares account for 4.17% of Yan Nan's holdings and 0.07% of the company's total share capital, and are restricted shares subject to a post-employment lock-up. As of the announcement date, Yan Nan holds 2.4 million shares in the company, and the cumulative shares subject to judicial auction have reached 2.4 million, representing 100% of his holdings and 1.79% of the company's total share capital. Of these, 2.3 million shares have completed the judicial bidding process but have not yet completed transfer registration. In the first quarter of 2026, Wanma Technology achieved revenue of 167 million yuan and net profit attributable to the parent company of 6.06 million yuan.
Wanma Technology Co LtdCourt-ordered auction of shareholder's shares due to legal proceedings may signal governance issues and potential selling pressure.
