新华联傅军“放手”华瓷股份控制权

Core Viewpoint - The change in actual control of Huaci Co., Ltd. marks the end of Fu Jun's control over his last A-share platform, indicating a significant shift in ownership dynamics within the company and potential implications for its future operations [1][2]. Control Change - On January 2, Huaci Co., Ltd. announced a change in its actual controller from Fu Jun and Xu Junqi to Xu Junqi alone, due to the non-renewal of their joint action agreement, which had been in place for 16 years [2]. - Prior to the change, Fu Jun and Xu Junqi collectively controlled 170 million shares, accounting for 67.49% of the total share capital. Post-change, Xu Junqi controls 114 million shares (45.26%), while Fu Jun holds 22.23% [2]. - Both parties indicated the possibility of adjusting their shareholdings in the next 12 months based on market conditions [2]. Fu Jun's Reduction of Control - Fu Jun previously controlled six listed companies, but now only holds over 5% in two: XinHuaLian (7.18%) and New Silk Road Culture Tourism (6.73%) [3]. - XinHuaLian Group, under Fu Jun, has been a prominent player in various industries, including cultural tourism and finance, with over 100 enterprises under its umbrella [3]. Debt and Restructuring - The loss of control over listed platforms for Fu Jun primarily occurred during the restructuring of XinHuaLian Holdings and six other companies in February 2024, aimed at debt repayment [4]. - The restructuring involved using equity from seven listed companies and four financial institutions to settle debts, resulting in approximately 5.5 billion yuan in cash and stock resources for debt repayment [4]. Stability of Shareholding - Debt risks associated with Fu Jun were highlighted during Huaci Co., Ltd.'s IPO application in 2021, where it was noted that Fu Jun provided guarantees for debts amounting to 5.623 billion yuan [5]. - Following the completion of XinHuaLian's restructuring, the risk to shareholding stability related to Fu Jun's personal guarantees has been mitigated [5]. - The management team led by Xu Junqi has initiated adjustments in shareholding, with plans for direct ownership of shares previously held through employee stock ownership platforms [6].