Shang Hai Zheng Quan Bao·2025-04-18 09:10Core Viewpoint - The announcement details the changes in the upper equity structure of Shanghai Sanmao Enterprise (Group) Co., Ltd., primarily involving its controlling shareholder, Chongqing Light Textile Holding (Group) Co., Ltd., and aims to enhance the strategic and operational collaboration of state-owned enterprises [2][3]. Group 1: Changes in Equity Structure - On January 2, 2025, Chongqing Light Textile Holding signed a management entrustment agreement with the Chongqing State-owned Assets Supervision and Administration Commission and other entities, allowing Chongqing Mechanical and Electrical Holding (Group) Co., Ltd. to manage Light Textile Holding, which indirectly controls 25.95% of the voting rights of Shanghai Sanmao [2]. - On February 26, 2025, through capital increase and the free transfer of state-owned equity, Chongqing Yufu Holding acquired 80% of the equity in the indirect controlling shareholder, Chongqing Mechanical and Electrical Holding, thereby gaining indirect control over 25.95% of the voting rights of Shanghai Sanmao [2]. - On February 28, 2025, the Chongqing State-owned Assets Supervision and Administration Commission and Chongqing Yufu Holding transferred their respective 20% and 80% stakes in Light Textile Holding to Chongqing Mechanical and Electrical Holding, resulting in the latter holding 100% of Light Textile Holding [2]. Group 2: Impact on Control - The changes in the upper equity structure will not alter the controlling shareholder or actual controller of Shanghai Sanmao, which remains Chongqing Light Textile Holding and the Chongqing State-owned Assets Supervision and Administration Commission, respectively [3]. - The company will continue to monitor the developments related to these changes and adhere to information disclosure requirements [4].