WHOLE SHINE MEDICAL’s stake in Fushun Bank will be judicially auctioned at a 30% discount.

Source: Taobao Judicial Auction Platform

DentalGoodNews｜On July 27, 2026, WHOLE SHINE MEDICAL TECHNOLOGY CO.,LTD. (hereinafter referred to as "WHOLE SHINE MEDICAL") issued an announcement that the Shanghai Financial Court will publicly auction its equity in Fushun Bank Co., Ltd. (hereinafter referred to as "Fushun Bank") with an investment amount of 227 million yuan (shareholding ratio of 6.68%) on the Taobao.com judicial auction platform from August 24 to 27. The appraised value of the auction target is 378 million yuan (appraisal base date: December 31, 2025, assessed by Shanghai Shenwei Asset Appraisal Co., Ltd. using the market approach as commissioned by the court), with the starting price set at 265 million yuan, approximately a 30% discount from the appraised value.

According to the announcement, this judicial auction stems from a contract dispute between WHOLE SHINE MEDICAL and Golden Begonia Asset Management Co., Ltd. Based on the "Enforcement Ruling" issued by the court, the applying enforcement party, Golden Begonia Company, applied for the resumption of enforcement, ordering WHOLE SHINE MEDICAL and other Persons Subject to Enforcement to pay a repurchase amount of approximately 362 million yuan and related enforcement fees. As the Persons Subject to Enforcement failed to fulfill their obligations, the Shanghai Financial Court legally permitted the realization of the aforementioned equity held by WHOLE SHINE MEDICAL in Fushun Bank.

If the transfer and industrial and commercial change registration of this equity auction are ultimately completed, WHOLE SHINE MEDICAL will no longer hold equity in Fushun Bank, and its long-term equity investment amount will decrease accordingly. WHOLE SHINE MEDICAL stated in the announcement that it is currently unable to determine the specific impact of this auction on the company's net profit and net assets, and the outcome remains uncertain.

According to previous reports by DENTALGOODNEWS (Leading Dental Industry Media, DGN), WHOLE SHINE MEDICAL has already accrued estimated liabilities exceeding 215 million yuan for this 361 million yuan contract dispute case. Previously, the Shanghai Financial Court had initiated the resumption of enforcement procedures in June 2026. Due to the lack of sufficient audit evidence for the equity method adjustments and impairment provisions of this equity, the audit firm retained an opinion in the audit report issued for WHOLE SHINE MEDICAL's 2025 financial statements.

Source: Taobao Judicial Auction Platform

Public information shows that WHOLE SHINE MEDICAL currently conducts Oral medical services primarily through its controlled subsidiary Delun Medical (with a shareholding ratio of 51%); the 51% equity in Delun Medical is currently under judicial freeze. According to previous reports by DGN, this equity in Fushun Bank has already undergone two judicial auctions and one judicial sale, all of which ended in failed auctions; in June 2024, the Shanghai Financial Court had ruled to terminate this enforcement procedure, and after the resumption of enforcement in June 2026, this auction represents the latest development.

The announcement points out that the auction target, Fushun Bank, was established in 1999 and is a non-listed, state-controlled joint-stock company. According to the judicial auction announcement, bidders must meet the shareholder qualification conditions stipulated by national laws and regulations, the provisions of the banking regulatory authorities, and the articles of association of Fushun Bank; if the equity change registration cannot be completed due to the disqualification of the bidder's subject qualification, the relevant adverse consequences shall be borne by the bidder. Additionally, the buyer must also apply to the relevant regulatory authorities for equity change approval procedures and obtain approval before the transfer can be completed.

As of the time of publication, the auction matter is still in the public notice stage.