Huazi Industry: Binhai Chuangfa reduces stake, strategic investor enters

Baotou Huazi Industry (SSE:600191) announced a change in equity structure as Binhai Chuangfa (Shenzhen) Trading Co., Ltd. relinquishes control to introduce a strategic investor. According to an equity change report, Zhongyu Technology Investment will acquire a 55% stake in Shengtai Chuangfa, Huazi Industry's holding company, for CNY 130 million through a capital increase, thus becoming Shengtai Chuangfa’s controlling shareholder. Following the transaction, Binhai Chuangfa's stake in Shengtai Chuangfa will decrease to 44.55%, and actual controller Zhang Wenguo is replaced with Song Minosong. This strategic move aims to facilitate the long-term growth of Huazi Industry. The company has stated there are no plans for further changes in shareholding within the next 12 months.