Two A-share companies, control rights transferred!

Two A-share listed companies are planning a change of control, and are expected to resume trading.

On April 3, Yilida (002686) disclosed the latest progress on matters related to a change in control.

According to the announcement, the company’s controlling shareholder, Zhejiang Shishang Asset Management Co., Ltd. (hereinafter “Zeshang Asset”), signed a “Share Transfer Agreement” with Tongxiang Runtong Holding Co., Ltd. (hereinafter “Runtong Holding”) and Zhejiang Jiaxing State-owned Capital Investment and Operation Co., Ltd. (hereinafter “Jiaxing Guotou”).

Zeshang Asset plans to transfer approximately 37.1101% of its shares in Yilida through an agreement-based transfer to Runtong Holding and Jiaxing Guotou. After this equity change, Runtong Holding will become the company’s controlling shareholder, and Tongxiang Municipal Finance Bureau will become the company’s actual controller.

The share transfer price from Zeshang Asset to Runtong Holding is 7.80 yuan per share, and the share transfer price to Jiaxing Guotou is 7.55 yuan per share, with the total transfer price amounting to approximately 1.63 billion yuan.

According to an earlier announcement by Yilida, on March 30 the company received a written notice from Zeshang Asset stating that Zeshang Asset was preparing a share transfer, which could lead to a change in the company’s controlling rights. Yilida has been suspended from trading since the opening of trading on March 31. According to the latest announcement, the company’s stock will resume trading from the opening of trading on April 7.

Apart from Yilida, Zhuhai Zhongfu (000659) previously announced that the company is planning to issue A-share stocks to specific investors, and that the matter may lead to a change in the company’s controlling rights, with the company’s stock being suspended from the opening of trading on April 2.

On the evening of April 3, Zhuhai Zhongfu announced that its board of directors considered and approved relevant resolutions including “The Company’s 2026 Plan for Issuing Shares to Specific Targets,” among others. On the same day, the company signed a “Conditional Effective Share Subscription Agreement” with Zhuhai Hengqin Xingying Investment Partnership (Limited Partnership) (hereinafter “Hengqin Xingying”). Hengqin Xingying plans to subscribe to all of the shares in this issuance in full in cash.

The number of shares Zhuhai Zhongfu plans to issue to specific targets is no more than 283 million shares, with proceeds raised of no more than 933 million yuan. After the issuance is completed, the proportion of shares held by Hengqin Xingying will be 18.03%.

Before this issuance, the controlling shareholder of Zhuhai Zhongfu, Shaanxi Xinsi Road Venture No. 1 Investment Partnership (Limited Partnership) (hereinafter “Xinsi Road”), directly held 15.71% of the company’s shares, and the company has no actual controller. After this issuance is completed, the proportion of shares held by the company’s former controlling shareholder will fall to 12.88%.

Zhuhai Zhongfu’s announcement shows that Xinsi Road issued a commitment titled “Commitment to Not Seek Control Rights,” and within 36 months after the completion of this equity change, it will cast a “yes” vote for all director candidates nominated by Hengqin Xingying. After the issuance is completed, the directors nominated and elected by Hengqin Xingying should account for 2/3 or more of the seats on the board of directors, and the company’s controlling shareholder will change to Hengqin Xingying. The actual controller of Hengqin Xingying is Huang Zhihao, and the company’s actual controller will be changed to Huang Zhihao.

The company’s stock will resume trading from the opening of trading on April 7.

Zhuhai Zhongfu said that after deducting issuance expenses, all募集资金 from this issuance to specific targets will be used to repay debts and to supplement the company’s working capital. In addition to providing strong funding support for the company’s R&D and optimizing production processes, it will also help ease the pressure on the company’s operating funds.

After this issuance is completed, the company’s net asset scale will further increase, the scale of working capital will increase significantly, and the company’s financial condition can improve significantly. This will help enhance the company’s ability to withstand risks and ensure the company’s sustainable development.

Source: eCompany

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