Shanshan Group restructuring advances, investor search initiated

Ningbo Shanshan (SSE:600884) announced that its controlling shareholder, Shanshan Group, and its wholly-owned subsidiary, Ningbo Pengze Trade Co., Ltd., are proceeding with a consolidated restructuring, initiated by a court ruling on March 20, 2025. The second creditors' meeting concluded on June 5, 2025, approving the recruitment of potential investors. Consequently, Shanshan Group announced a public solicitation for restructuring investors on June 9, 2025, outlining eligibility criteria and the selection process for restructuring proposals. As of June 30, 2025, Shanshan Group directly held 320,296,700 shares of Ningbo Shanshan, representing 14.24% of the total share capital, while Pengze Trade held 205,264,756 shares, or 9.13%. The company emphasized that its operations remain independent and unaffected, but cautioned investors about potential changes in control due to the restructuring outcome.