SMEG(SH:600689) Zheng Quan Zhi Xing·2025-07-16 09:20Core Viewpoint - The report outlines the transfer of 52,158,943 shares of Shanghai Sanmao Enterprise (Group) Co., Ltd. from Chongqing Light Textile Holding (Group) Co., Ltd. to Chongqing Mechanical and Electrical Holding (Group) Co., Ltd., representing 25.95% of the total share capital, with the actual controller remaining unchanged as the Chongqing State-owned Assets Supervision and Administration Commission [1][3][6]. Group 1: Share Transfer Details - The share transfer is a non-compensatory transfer of state-owned equity, with no financial payment involved [6][8]. - After the transfer, Chongqing Mechanical and Electrical Holding will become the controlling shareholder of Shanghai Sanmao, while Chongqing Light Textile will no longer hold any shares [6][7]. - The transfer requires approval from the Chongqing State-owned Assets Supervision and Administration Commission, introducing some uncertainty regarding the approval process [2][8]. Group 2: Company Information - Chongqing Light Textile Holding (Group) Co., Ltd. is a state-controlled limited liability company with a registered capital of 1.8 billion RMB [4]. - The company operates under the supervision of the Chongqing State-owned Assets Supervision and Administration Commission, which is also the actual controller of the company [3][4]. - The management team includes key figures such as Deng Rong, the Party Secretary and General Manager [4]. Group 3: Future Plans and Compliance - There are currently no plans for Chongqing Light Textile to increase or decrease its shareholding in the listed company within the next twelve months [6]. - The report confirms that there are no outstanding debts owed by the information disclosing party to the listed company, nor any guarantees that could harm the interests of the listed company [7][8].