Glonghui, November 9, 丨 ST. Busen (002569.SZ) announced that the company recently received a “Notice on Internet Judicial Auction Matters” from Shanghai Cathay Pacific Auction House Co., Ltd. commissioned by the Shanghai First Intermediate Court to issue a case involving Great Wall Capital Management Co., Ltd. and Shanghai Ruiyi Asset Management Partnership (Limited Partnership) (hereinafter referred to as “Shanghai Rui”), etc. (hereinafter referred to as “Shanghai Ruiyi”), etc. in the case of a notarial execution certificate. The Shanghai First Intermediate Court has issued a relevant equity auction notice on “Taobao”, which will take place on December 12, 2020 from 8:00 a.m. on December 12, 2020 to 8:00 p.m. on December 13, 2020 The 2.68 million shares of Busen Co., Ltd. held by Shanghai Ruiyi were publicly auctioned (accounting for about 1.86% of the company's total share capital).

Currently, the auction matters are still in the publicity stage. Subsequent aspects will involve auctions, payments, court rulings, share changes and transfers. If this auction is completed, the controlling shareholders of the company will not change