Taoli Bread: One of the actual controllers, Sheng Yali, supplements pledge of 20.11 million shares

Radar Finance | Written by Feng Xiuyu | Edited by Li Yihui

On February 26, Taoli Bread (603866) announced that Ms. Sheng Yali, one of the company’s controlling shareholders and actual controllers, has pledged a portion of her shares as a supplementary pledge. The number of shares pledged this time is 20,110,000, accounting for 12.34% of her holdings and 1.26% of the total share capital of the company. The pledge started on February 24, 2026, and will expire on February 24, 2027. The pledgee is CITIC Securities Co., Ltd., and the funds from the pledge are used for supplementary pledge purposes.

After this supplementary pledge, Ms. Sheng Yali has pledged a total of 85,510,000 shares, representing 52.46% of her holdings and 5.35% of the company’s total share capital.

Ms. Sheng Yali and her concerted actors hold a total of 901,578,473 shares, accounting for 56.36% of the company’s total share capital. After this pledge, the total pledged shares controlled by Ms. Sheng Yali and her concerted actors amount to 150,510,000, representing 16.69% of her holdings and 9.41% of the company’s total share capital.

The announcement also states that Ms. Sheng Yali has good credit standing, strong repayment ability, and manageable pledge risks, which will not affect the company’s production, operation, or governance.

According to Tianyancha data, Taoli Bread was established on January 23, 1997, with a registered capital of approximately 1.5997 billion RMB. The legal representative is Wu Xueliang, and the registered address is No. 1066, Airport Road, Sujiatun District, Shenyang, Liaoning Province. The main business involves the production and sale of bread, pastries, mooncakes, and other products.

Currently, the company’s chairman is Wu Xueliang, the secretary of the board is Zhang Yinan, with 8,390 employees. The actual controllers are Wu Xuequn, Wu Xueliang, Sheng Yali, and Wu Zhigang.

The company has stakes in 35 subsidiaries, including Haikou Taoli Trading Co., Ltd., Taiyuan Taoli Bread Co., Ltd., Chengdu Taoli Food Co., Ltd., Tianjin Taoli Food Co., Ltd., Shenyang Taoli Bread Co., Ltd., and others.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 6.686 billion RMB, 6.759 billion RMB, and 6.087 billion RMB, respectively, with year-on-year growth of 5.54%, 1.08%, and -9.93%. Net profit attributable to the parent was 640 million RMB, 574 million RMB, and 522 million RMB, with year-on-year declines of 16.14%, 10.29%, and 9.05%. During the same period, the company’s asset-liability ratio was 24.10%, 27.82%, and 27.45%.

Regarding risks, Tianyancha data shows the company has 31 internal Tianyan risks, 548 surrounding risks, 28 historical risks, and 426 early warning risks.