Shanshan Group faces restructuring; control at stake

Ningbo Shanshan announced that the鄞州 District People's Court ruled for a substantive merger and restructuring of its controlling shareholder, Shanshan Group, and its wholly-owned subsidiary, Ningbo Pengze Trading. Pengze Trading holds 205,264,756 shares of Ningbo Shanshan, representing 9.11% of its total share capital, all of which are pledged and frozen. The court's decision could lead to adjustments in the equity structure and potentially shift control of Ningbo Shanshan. While Ningbo Shanshan maintains independent operations and financial stability, the company will monitor developments and disclose information as required. Investors are advised to exercise caution. Shanshan Group owns 320,296,700 shares, representing 14.21% of total capital.