Wanfang Aluminum: Control set to change hands

Zhejiang Ansheng Holding and Ningbo Zhongman Technology Management, collectively holding 19.31% of Jiaozuo Wanfang Aluminum (SZSE: 000612), are seeking to change the company's actual controller. Zhejiang Ansheng has nominated Cao Liping as an independent director candidate. If elected at the upcoming shareholder meeting, Zhejiang Ansheng and Ningbo Zhongman would control over half of the board seats, resulting in a shift of control to Zhao Zheng Gang. Jiaozuo Wanfang is planning an asset restructuring, seeking to purchase Cayman Aluminum (Sanmenxia) from Hangzhou Jinjiang Group (controlled by Zhao Zheng Gang). Ansheng has also appointed China Securities as its financial advisor.