Breo(SH:688793) Zheng Quan Zhi Xing·2025-08-01 16:36Core Viewpoint - The announcement details the dissolution of the concerted action relationship between the controlling shareholder Ma Xuejun and Ningbo Bairun, with the latter now being controlled by Zhang Jianing and her 23 co-shareholders, who collectively hold 51.28% of Ningbo Bairun's shares [1][2][5]. Summary by Sections 1. Background of the Shareholder Structure - Ningbo Bairun is a corporate shareholder and employee stock ownership platform, holding 681,944 shares, which is 0.79% of the company [1]. - Ma Xuejun was previously recognized as the actual controller of Ningbo Bairun, holding 40.22% of its shares at the time of the company's IPO [1][2]. 2. Dissolution of the Concerted Action Relationship - The concerted action relationship was dissolved following the registration of changes in Ningbo Bairun's corporate structure, with Zhang Jianing becoming the new controlling shareholder [1][2]. - This change does not affect the actual shareholding quantities of the shareholders involved and does not trigger a mandatory takeover bid [1][5]. 3. Changes in Control and Shareholding - Before the dissolution, Ma Xuejun and his concerted action parties held a total of 45,675,104 shares, representing 53.1443% of the company [3][4]. - After the dissolution, Ma Xuejun and his concerted action parties hold 44,993,160 shares, which is 52.3508% of the company [4]. 4. Compliance and Future Obligations - Following the dissolution, Ma Xuejun and Ningbo Bairun are required to adhere to relevant regulations regarding share reduction and information disclosure [5][6]. - They must continue to comply with the regulations for six months post-dissolution regarding share reduction and other related obligations [6].