Core Viewpoint - The divorce of the actual controller of Weston, Mao Yuzhong, and the subsequent transfer of 22.73% of the company's shares to his ex-wife, valued at over 9 billion yuan, has raised significant concerns and speculation regarding the company's stability and governance [1][4][6]. Company Overview - Weston (301315.SZ) announced on April 20 that its actual controller, Mao Yuzhong, has divorced his ex-wife, Xu Xiangfeng, and transferred 20 million shares, representing 22.73% of the company, to her [4]. - Following the announcement, Weston's stock price fell by 2.74%, closing at 45.13 yuan per share, with a total market value of approximately 40 billion yuan [4]. - Before the share transfer, Xu Xiangfeng did not hold any shares in Weston and was not employed by the company; post-transfer, she became the largest individual shareholder [4]. Financial Performance - Weston's performance has been declining, with the company experiencing its first dual decline in revenue and net profit in nearly seven years in 2024 and the first quarter of 2025 [2][14]. - In 2024, Weston reported revenue of 294 million yuan, a decrease of 6.32% year-on-year, and a net profit of 51.71 million yuan, down 11.26% [14]. - The first quarter of 2025 saw further declines, with revenue dropping 26.66% to 43.71 million yuan and net profit down 24.6% to 5.74 million yuan [18]. Shareholder Dynamics - Despite the share transfer, Mao Yuzhong remains the actual controller of Weston, having signed a "consensus action agreement" with Xu Xiangfeng to ensure unified voting at shareholder meetings [6]. - The share transfer allows Mao to circumvent restrictions on selling his shares, as his shares were subject to a three-year lock-up period due to his status as the actual controller [6]. - The third-largest shareholder, Shanghai Congwei Consulting Management Partnership, has conducted two rounds of share reductions, cashing out at least 53.32 million yuan [19][20]. Industry Context - Weston has historically relied heavily on the tobacco industry, with significant revenue contributions from tobacco clients [8][13]. - The company has faced challenges due to increased scrutiny and anti-corruption measures within the tobacco sector, impacting its governance and operational stability [13].
茆宇忠前妻拿走9亿“分手费”，威士顿营利滑坡