New Focus Auto Shareholder’s Equity Frozen

New Focus Auto Tech Holdings (HK:0360) has released an update.

New Focus Auto Tech Holdings has disclosed that the equity interest of its controlling shareholder, Daodu (HK), has been frozen due to a civil lawsuit, but the company reassures there is no risk of a change of control. A controlling stake of 60.69% in the company is affected by this freeze, which has been appealed by Qingdao Guorui, the shareholder in question. New Focus Auto Tech is closely monitoring the situation and will keep the market updated on any significant developments.

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