Core Viewpoint - Shandong Dongyue Future Hydrogen Energy Materials Co., Ltd. (referred to as Future Materials) has restarted its IPO process and submitted its application to the Shanghai Stock Exchange after previous attempts failed due to various issues [1][2]. Company Background - Future Materials was established in December 2017 with a registered capital of 100 million yuan, co-founded by Huaxia Shenzhou, Xinhua Group, and Beijing Xuri Xinglong, each holding 40%, 30%, and 30% respectively [1]. - The company underwent a significant change in its shareholding structure, with Dongyue Fluorosilicon Technology Group becoming the largest shareholder with a 31.21% stake [2]. Shareholding Structure - As of early 2022, the combined control of Future Materials was held by Fu Jun and his daughter Fu Shuangshuang, who together controlled 72.88% of the voting rights [3]. - Following a series of share transfers and changes in control, Zhang Jianhong regained control of Future Materials, with his entities holding a total of 36.19% of the voting rights by August 2022 [3]. Recent Developments - In June 2023, Fu Shuangshuang transferred 64% of her shares in a related entity, which has led to legal disputes regarding the validity of the transfer [4]. - The restructuring plan for Xinhua Group was approved in February 2024, leading to significant share transfers involving Future Materials [4]. Current Control - Zhang Jianhong is currently the actual controller of Future Materials, holding a total of 35.50% of the voting rights through various entities [5]. - The shareholding is relatively dispersed, with 45 shareholders as of the signing of the prospectus, and the largest shareholder being Beijing Xuri Xinglong with a 22.02% stake [9][10].
未来氢能更名未来材料IPO，张建宏从傅军手中夺回控制权