According to an announcement from the company, DCWT (HKEX: 03768) disclosed that 58 million of its shares, representing approximately 5.64% of the company's total issued share capital and held by its controlling shareholder Kunming Dianchi Investment, were subject to a judicial auction.

The auction was scheduled to take place from 15:00 on June 15, 2026, to 15:00 on June 16, 2026, barring any automatic extensions due to bidding.

Information from the auction platform's confirmation document indicates the result of the online competitive bidding: the user named Kunming Water Group Co., Ltd. emerged as the highest bidder.

The final online auction price for the lot was RMB 28.0888 million.

The successful bidder from the online auction is required to comply with the stipulations in the lot's bidding instructions and announcement, including paying the remaining balance of the auction price on time and completing the relevant procedures.

The final outcome for the lot is subject to the issuance of an auction ruling by the Sichuan Free Trade Zone People's Court.

To the best knowledge, information, and belief of the directors after making all reasonable inquiries, as of the date of this announcement, Kunming Water Group Co., Ltd. is wholly owned by the State-owned Assets Supervision and Administration Commission of Kunming Municipal People's Government and does not hold any shares in the company or its subsidiaries.

Should the Sichuan Free Trade Zone People's Court rule the auction successful, Kunming Water Group Co., Ltd. will not become a major shareholder of the company.

As of the date of this announcement, Kunming Dianchi Investment holds 447,000,209 domestic shares in the company, representing approximately 43.42% of the total issued share capital, all of which are pledged or under judicial freeze.

If the Sichuan Free Trade Zone People's Court rules the auction of this lot successful, the shareholding of Kunming Dianchi Investment in the company will decrease to 389 million shares, representing approximately 37.79% of the total issued share capital.