DCWT (03768.HK): Controlling Shareholder's Shares in Company Remain under Judicial Freeze for Three Years

NewTimeSpace News: On 9 September 2026, Kunming Dianchi Water Treatment Co., Ltd. (stock code: 03768) published an inside information announcement stating that it had received an Assistance Enforcement Notice (No. (2024) Yun 0103 Zhi 993) from the Panlong District People's Court of Kunming City, requiring the company to continue assisting in freezing shares of the company held by its controlling shareholder, Kunming Dianchi Investment Co., Ltd., within the amount of RMB 123,530,242.28, for a term of three years from 9 September 2026 to 8 September 2029.

According to the announcement, the notice relates to an enforcement ruling in a loan contract dispute case in which the applicant, Guangzhou Development Bank Co., Ltd. Kunming First Sub-branch, applied for enforcement against the judgment debtors Kunming Drainage Facilities Management Co., Ltd. and Kunming Dianchi Investment. The company previously disclosed in its announcement of 19 September 2023 the freezing of equity of RMB 123,530,242.28 held by Kunming Dianchi Investment in the company. As of the date of this announcement, Kunming Dianchi Investment holds 388,889,209 domestic shares of the company, representing 37.79% of the total issued shares, all of which are subject to pledges and/or judicial freezes.

The company stated that it remains independent from Kunming Dianchi Investment in terms of assets, business and finance, and that the freeze on the controlling shareholder's shares will not affect the company's normal operations or have a material impact on its principal business or ability to continue as a going concern; as of the date of this announcement, the company's operations remain normal. The company reminded shareholders and investors to exercise caution when dealing in its securities.

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