同日，善水科技披露，黄国荣因个人原因请辞董事、董事长、总经理职务，公司董事会选举董事吴新艳 接任董事长、总经理。 而就在不到1个月之前的10月20日，善水科技披露，黄国荣因个人原因被采取刑事强制措施，董事会决 定由吴新艳代行董事长、总经理职责。 目前尚无公开信息显示双方离婚是否与黄国荣被采取刑事强制措施有关。 中经记者 孙汝祥 夏欣 北京报道 据《中国经营报》记者梳理，截至11月13日，2025年，A股共有11家上市公司因大股东离婚分割股份而 发布股东权益变动提示公告。其中，有10家公司涉及实际控制人的变更或控制权比例的变化。 专家提醒，相对于大股东的"天价分手费"，投资者更应关注由于股份分割带来的公司控制权的变化。因 为控制权的转移或削弱，会直接动摇公司决策结构的稳定性，进而影响公司未来的经营发展，同时也会 影响二级市场的情绪和股价稳定性。 也有专家认为，大股东离婚分股对公司及股价的影响不能一概而论，关键是看企业自身经营状况是否稳 健。投资者需要着重警惕大股东为了转移资产、逃避责任的"假离婚"。 11家公司大股东离婚 11月7日，善水科技（301190.SZ）公告，公司原共同实际控制人黄国荣、吴新艳经法院调 ...

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Shan Shui Technology, including stock price movement and trading volume [1] - On November 12, Shan Shui Technology's stock fell by 1.86%, with a trading volume of 37.72 million yuan. The margin trading data indicates a net margin buy of -656,000 yuan for the day [1] - As of November 12, the total margin trading balance for Shan Shui Technology is 128 million yuan, which accounts for 2.45% of its market capitalization, indicating a high level of margin trading activity [1] Group 2 - As of September 30, the number of shareholders for Shan Shui Technology is 9,563, a decrease of 26.19% from the previous period, while the average circulating shares per person increased by 35.49% to 16,663 shares [2] - For the period from January to September 2025, Shan Shui Technology reported a revenue of 499 million yuan, representing a year-on-year growth of 33.78%, and a net profit attributable to shareholders of 84.2 million yuan, up 25.13% year-on-year [2] Group 3 - Since its A-share listing, Shan Shui Technology has distributed a total of 126 million yuan in dividends, with 94.3 million yuan distributed over the past three years [3]

Core Viewpoint - Recently, Jiujiang Shanshui Technology Co., Ltd. announced the resolution of the marriage between its actual controller Huang Guorong and Wu Xinyan, along with arrangements regarding the division of shares [1]. Share Division - In the share division, 10 million shares directly held by Huang Guorong were transferred to Wu Xinyan. Additionally, Huang Guorong's indirect holdings included a property share of 21 million yuan (97.3123% of the partnership) and 6.9 million yuan (38.6685% of the partnership) which were also transferred to Wu Xinyan [2]. - Post-division, Huang Guorong directly holds 30 million shares of Shanshui Technology (13.9771% of total shares) and a total of 30.222 million shares (14.0806% of total shares). Wu Xinyan directly holds 35 million shares (16.3066% of total shares) and a total of 68.568 million shares (31.9461% of total shares) [2]. - Before the share division, Wu Xinyan held a total of 30.668 million shares, and after the division, she is expected to receive a total of 37.9 million shares. As of November 7, the closing price of Shanshui Technology was 24.38 yuan per share, valuing the shares Wu Xinyan will receive at approximately 924 million yuan [2]. - Wu Xinyan has become the actual controller and majority shareholder of Shanshui Technology, with a total voting power of 39.2114% [2]. Management Changes - On October 20, Shanshui Technology announced that Huang Guorong was subjected to criminal coercive measures due to personal reasons [3]. - On November 7, Huang Guorong submitted a written resignation report, stepping down from his positions as director, chairman, and general manager of the company due to personal reasons [5].

Group 1 - The core viewpoint of the news is that Shan Shui Technology's stock performance and financial metrics indicate a mixed outlook, with a slight decline in stock price and notable financing activities [1][2]. - As of November 11, Shan Shui Technology's stock price decreased by 0.96%, with a trading volume of 59.48 million yuan. The net financing amount was -6.44 million yuan, indicating more repayments than new purchases [1]. - The total financing and margin trading balance for Shan Shui Technology reached 128 million yuan, accounting for 2.41% of its market capitalization, which is above the 80th percentile of the past year [1]. Group 2 - As of September 30, the number of shareholders for Shan Shui Technology was 9,563, a decrease of 26.19% from the previous period, while the average circulating shares per person increased by 35.49% to 16,663 shares [2]. - For the period from January to September 2025, Shan Shui Technology reported a revenue of 499 million yuan, representing a year-on-year growth of 33.78%. The net profit attributable to the parent company was 84.2 million yuan, up 25.13% year-on-year [2]. - Since its A-share listing, Shan Shui Technology has distributed a total of 126 million yuan in dividends, with 94.3 million yuan distributed over the past three years [3].

Core Viewpoint - The control of Shanshui Technology has shifted from Huang Guorong to his wife Wu Xinyan following their divorce and subsequent share division, marking a significant change in the company's governance structure [1][3][4]. Group 1: Control Change - On November 7, Shanshui Technology announced the change of actual controller from Huang Guorong to Wu Xinyan after their divorce and share division [1][3]. - Huang Guorong's direct shareholding of 10 million shares was transferred to Wu Xinyan, along with significant stakes in two investment partnerships [3][4]. - Following the share division, Wu Xinyan's shareholding increased to 31.9461%, while Huang Guorong's dropped to 14.0806% [4]. Group 2: Market Reaction - On October 20, the company's stock price fell by 17.04% to 22.88 yuan per share after the announcement of Huang Guorong's criminal measures [2][4]. - The total value of the assets involved in the divorce settlement is estimated at 2.4 billion yuan, making it one of the most expensive divorce cases in the A-share market [4]. Group 3: Company Performance - Shanshui Technology's revenue showed a recovery trend, with 2023 revenue reaching 4.95 billion yuan, a 23.64% increase year-on-year, although net profit decreased by 79.03% to 21 million yuan [6][7]. - The company reported a revenue of 5.05 billion yuan and a net profit of 53 million yuan in 2024, indicating a recovery in performance [6]. - In the first three quarters of 2025, Shanshui Technology achieved a revenue of 4.99 billion yuan, a 33.78% increase, and a net profit of approximately 84 million yuan, a 25.13% increase [6][7].

Core Viewpoint - The recent leadership changes at Shan Shui Technology involve the resignation of Chairman Huang Guorong and the appointment of Wu Xinyan as the new Chairman and General Manager, following personal reasons and a change in the actual controller due to their divorce [2][3][6]. Group 1: Leadership Changes - Huang Guorong resigned from all positions including Chairman, General Manager, and Strategic Committee Chairman, holding 40 million shares (18.6362% of total shares) at the time of resignation [2]. - Wu Xinyan has been elected as the new Chairman and General Manager, with her term lasting until the end of the current board's term [2]. - The board meeting also confirmed Wu Xinyan as the new legal representative of the company [2]. Group 2: Changes in Actual Controller - Following the divorce, Wu Xinyan became the actual controller of the company, acquiring additional shares from Huang Guorong, bringing her total holdings to 68.568 million shares (31.95% of total shares) [3]. - The newly acquired shares have a market value of approximately 924 million yuan [3]. Group 3: Company Performance - For the first three quarters of 2023, Shan Shui Technology reported a revenue of 499 million yuan, representing a year-on-year increase of 33.78% [6]. - The net profit attributable to shareholders was approximately 84.197 million yuan, up 25.13% year-on-year, with a basic earnings per share of 0.41 yuan [6]. - The company specializes in the research, production, and sales of dye intermediates, pesticides, and pharmaceutical intermediates [6].

Core Viewpoint - The change in the actual controller and major shareholder of Shan Shui Technology is due to the divorce between Huang Guorong and Wu Xinyan, leading to a redistribution of shares and control over the company [1][4]. Shareholder Changes - Before the change, Huang Guorong and Wu Xinyan collectively held 98,790,000 shares, accounting for 46.0267% of the total share capital. Huang directly held 40,000,000 shares (18.6362%), while Wu directly held 25,000,000 shares (11.6476%) [2][3]. - Following the divorce settlement, Huang Guorong's shares were reduced to 30,222,000 shares (14.0806%), while Wu Xinyan's shares increased to 68,568,000 shares (31.9461%) [3][4]. Control and Voting Rights - Prior to the change, Huang Guorong and Wu Xinyan were joint actual controllers, with Huang holding 30.2838% of the voting rights directly and 22.9048% through joint action partners, totaling 53.1886% [3]. - After the change, Wu Xinyan became the actual controller and major shareholder, holding 16.3066% of the voting rights directly and 22.9048% through joint action partners, totaling 39.2114% [4]. Corporate Governance Changes - Huang Guorong resigned from all positions including Chairman and General Manager, and Wu Xinyan was elected as the new Chairman and appointed as General Manager [5][6]. - The board of directors adjusted the strategic committee, with Wu Xinyan taking over as the chairperson [6]. Financial Implications - The share redistribution resulted in Wu Xinyan acquiring an additional 37,900,000 shares, valued at approximately 924 million yuan based on the closing price of 24.38 yuan on November 7 [4].

Group 1: Government Policies and Economic Indicators - The State Council issued implementation opinions focusing on cultivating new application scenarios across five areas, proposing 22 key fields for development [1] - In October 2025, the national consumer price index rose by 0.2% year-on-year and month-on-month, while the industrial producer price index fell by 2.1% year-on-year, with a month-on-month increase of 0.1% [2] - The People's Bank of China reported foreign exchange reserves at $3.343 trillion at the end of October, with gold reserves increasing by 30,000 ounces to approximately 2,304.457 tons [2] Group 2: Company Announcements - *ST Changyao was investigated by the China Securities Regulatory Commission for suspected false financial reporting [3] - Intercontinental Oil and Gas announced that a shareholder was investigated for failing to halt trading after reaching a 5% shareholding threshold [4] - ST Huatuo applied to revoke other risk warnings, while Huadian Technology signed a contract for a sea wind power project worth approximately 3.415 billion yuan [5] - Shanshui Technology announced a change in actual control due to the divorce settlement of its controlling shareholders [6] - Bayi Steel was investigated by the China Securities Regulatory Commission for suspected information disclosure violations [7] - Shenzhen Sanda A reported a tax payment of 112 million yuan, expected to reduce net profit by approximately 57.36 million yuan [8] - Founder Technology announced an investment of 1.364 billion yuan for an AI expansion project in Chongqing [9] - Huadian Energy plans to invest 12.043 billion yuan in a combined heat and power project [10] - Meihua Biology's controlling shareholder was sentenced to three years in prison for market manipulation [11] Group 3: Market Analysis and Sector Performance - GF Securities analyzed October inflation data, noting significant price increases in upstream coal and non-ferrous metals, while automotive manufacturing showed a slight recovery [12] - Zhongtai Securities reported a divergence in industry performance, with improved profit margins in steel and media sectors, while many consumer sectors faced pressure [13] - The military and media sectors showed a notable increase in net profit growth compared to the second quarter [14]

Core Viewpoint - The ownership structure of Shan Shui Technology has changed, with Wu Xinyan becoming the actual controller and major shareholder after a transfer of shares from Huang Guorong, who has resigned from his positions due to personal reasons [2][3]. Shareholding Changes - Huang Guorong transferred 10 million shares of Shan Shui Technology to Wu Xinyan, increasing her total direct and indirect holdings from 30.668 million shares to 68.568 million shares, representing 31.95% of the total share capital [2]. - The market value of the newly acquired 37.9 million shares, based on the closing price on November 7, is approximately 924 million yuan [2]. Management Changes - Huang Guorong resigned from his roles as Chairman, Director, and General Manager of the company, with Wu Xinyan elected as the new Chairman and proposed to be appointed as General Manager [2][3]. - Wu Xinyan has a background in procurement and has held various positions within the company since 2012, indicating her familiarity with the business operations [3]. Company Performance - Shan Shui Technology's main business includes the research, production, and sales of dye intermediates, pesticides, and pharmaceutical intermediates, with key products being various chlorinated pyridine series [6]. - As of November 7, the stock price of Shan Shui Technology was 24.38 yuan per share, with a total market capitalization of 5.2 billion yuan, reflecting a year-to-date increase of over 55% [6].

Core Viewpoint - The recent changes in the actual control of Shan Shui Technology (301190.SZ) stem from a personal crisis involving the actual controller and chairman, Huang Guorong, who was subjected to criminal coercive measures. Following a divorce settlement with Wu Xinyan, the control of the company shifted from Huang to Wu, involving a significant asset division of approximately 2.4 billion yuan [1][2][5]. Group 1: Control Change - On October 20, the company announced that Huang Guorong was taken under criminal coercive measures, prompting Wu Xinyan to assume his responsibilities temporarily [2][6]. - On November 7, the company disclosed that Huang and Wu had divorced and made arrangements for the division of shares, resulting in a change of actual control from Huang to Wu [1][3]. Group 2: Share Distribution - Huang Guorong's direct shareholding of 10 million shares was transferred to Wu Xinyan, along with indirect holdings from two investment partnerships totaling approximately 2.79 million yuan [3][4]. - Post-divorce, Huang's total shareholding dropped to 14.08%, while Wu's increased to 31.95%, fundamentally altering the company's control structure [4][5]. Group 3: Management Changes - Following the control change, Huang Guorong resigned as chairman and general manager, with Wu Xinyan being elected as the new chairman and proposed as the general manager [6][7]. - This transition marks a significant shift in leadership from the "Huang Guorong era" to the "Wu Xinyan era" [6]. Group 4: Company Performance - Shan Shui Technology reported strong performance in the first three quarters of the year, with revenue nearing 500 million yuan, a year-on-year increase of 33.78%, and a net profit of approximately 84.2 million yuan, up 25.13% [6][7]. - The company emphasized that the recent changes would not adversely affect its operational stability or independence [7].