DAGANG HOLDING(SZ:300103) Zheng Quan Zhi Xing·2025-07-31 16:26Core Viewpoint - The equity change involves Sun Jianxi transferring 34,936,110 shares (11% of total shares) to Shanghai Mangrui, controlled by Chen Ke, while also entrusting voting rights of 57,812,390 shares (18.20% of total shares) to Chen Ke, making him the actual controller of Dagang Holdings with a total control of 29.20% of voting rights [2][3][20]. Group 1: Equity Change Details - The equity change is structured as a share transfer agreement, with Sun Jianxi and Li Taijie entrusting their voting rights to Chen Ke [2][20]. - After the transaction, Chen Ke will directly hold 11% of the shares and control 29.20% of the voting rights [3][20]. - The transaction is subject to compliance confirmation by the Shenzhen Stock Exchange and may face uncertainties regarding its execution [9]. Group 2: Risks and Stability Concerns - There are risks associated with the stability of the company's control, as a significant portion of shares held by Sun Jianxi is pledged or frozen, which could lead to a reduction in voting rights [2][3]. - The potential for forced selling due to judicial actions could impact the stability of control over the company [3][4]. - The agreement includes commitments from Sun Jianxi not to seek control of the company during the entrusted voting period [4][20]. Group 3: Financial Advisor's Role - Beijing Boxing Securities acted as the financial advisor, conducting due diligence and confirming that the equity change complies with relevant laws and regulations [6][10]. - The financial advisor has ensured that the disclosure documents are accurate and complete, with no significant omissions or misleading statements [10][21]. - The advisor's report is intended for reference by investors and relevant parties regarding the equity change [6][9].