DFGC(SZ:000679) Zheng Quan Ri Bao Wang·2025-07-17 12:46Core Viewpoint - The judicial freeze on 100 million shares of Dalian Friendship (000679) held by its controlling shareholder, Wuxin Investment, has been extended until July 6, 2028, due to unresolved disputes over share transfer between new and old shareholders [1][4]. Group 1: Share Transfer Dispute - The share transfer dispute originated from a 2016 agreement where Dalian Friendship's former controlling shareholder, Dalian Friendship Group, entered into a share transfer agreement with Wuxin Group, Kaisheng Trading, and Hengsheng Jiaye, involving a total cash consideration of approximately 2.8 billion yuan [2][3]. - Dalian Friendship Group claimed that Wuxin Group and its affiliates only paid 1.664 billion yuan, leading to a lawsuit filed in December 2019, with Dalian Friendship listed as a third party [2][3]. Group 2: Legal Proceedings - The case has undergone multiple legal proceedings, including a retrial ordered by the Supreme People's Court in April 2022, and the Liaoning High Court's decision in March 2023 to revoke previous judgments and send the case back for retrial [3]. - As of June 18, 2023, Dalian Friendship confirmed that the case is still under review by the Dalian Intermediate People's Court, with no verdict reached yet [3]. Group 3: Impact of Share Freeze - The judicial freeze has significantly impacted the planned transfer of control to Wuhan Development Investment, which was set to take over Dalian Friendship's shares [4][5]. - The freeze may hinder the ability to transfer shares and could lead to concerns regarding the stability of corporate governance, potentially affecting investor confidence and the introduction of strategic investors [6]. - Dalian Friendship has faced declining financial performance, with net profits declining for four consecutive years and non-recurring net profits showing losses for ten years since 2015 [6].