{Economic Information Daily} reported on the 24th that Shennong Group (Shanghai: 605296) announced after market close on the 23rd that the company received notice from its controlling shareholder and actual controller He Zuxun, stating that the divorce dispute case filed by Luo Wanyu against He Zuxun has been accepted by the Guandu District People's Court of Kunming City. The plaintiff, Luo Wanyu, requests the court to rule on dissolving her marital relationship with He Zuxun and to conduct property division. As of the date of this announcement, both parties have agreed to undergo mediation under the court's supervision prior to trial. The case has been accepted but has not yet been heard.
The announcement shows that defendant He Zuxun directly holds approximately 261 million shares of the company, accounting for 49.60% of the total share capital, while plaintiff Luo Wanyu does not hold any shares in the company. Based on the closing price of 33.6 yuan (RMB, same below) on September 23 and a total market capitalization of 176.8 billion yuan, the market value of He Zuxun's holdings is approximately 8.77 billion yuan. The company emphasized that the lawsuit involves only He Zuxun's personal shareholder rights and is unrelated to production and operations.
Shennong Group hit the limit-down during trading today and is currently down 9.79%, trading at 30.31 yuan.
Today, the domestic media outlet "21st Century Business Herald" called the company as an investor. A staff member who answered the call said the company's stock price decline today is related to news of the actual controller's divorce lawsuit and recent executive departures. At this stage, it is impossible to predict whether the court will support the property division claim or determine the final division ratio. However, He Zuxun has signed a concerted action agreement with family members, and the family's overall shareholding exceeds 85%. Under current circumstances, the company's control rights appear relatively stable, but everything is still subject to subsequent official announcements. (wn)
The announcement shows that defendant He Zuxun directly holds approximately 261 million shares of the company, accounting for 49.60% of the total share capital, while plaintiff Luo Wanyu does not hold any shares in the company. Based on the closing price of 33.6 yuan (RMB, same below) on September 23 and a total market capitalization of 176.8 billion yuan, the market value of He Zuxun's holdings is approximately 8.77 billion yuan. The company emphasized that the lawsuit involves only He Zuxun's personal shareholder rights and is unrelated to production and operations.
Shennong Group hit the limit-down during trading today and is currently down 9.79%, trading at 30.31 yuan.
Today, the domestic media outlet "21st Century Business Herald" called the company as an investor. A staff member who answered the call said the company's stock price decline today is related to news of the actual controller's divorce lawsuit and recent executive departures. At this stage, it is impossible to predict whether the court will support the property division claim or determine the final division ratio. However, He Zuxun has signed a concerted action agreement with family members, and the family's overall shareholding exceeds 85%. Under current circumstances, the company's control rights appear relatively stable, but everything is still subject to subsequent official announcements. (wn)
