WSBE(SH:600421) Zheng Quan Shi Bao Wang·2025-08-20 03:43Core Viewpoint - *ST Huaron (600421) is experiencing a potential "rebirth" as its controlling shareholder plans to transfer the actual control of the listed company to Hainan Bocheng Huineng Technology Center (Limited Partnership) [1] Group 1: Share Transfer Details - The controlling shareholder, Zhejiang Hengshun Investment Co., Ltd., and its concerted party, Shanghai Tianji Investment Co., Ltd., signed a share transfer agreement with Bocheng Huineng on August 11, 2023 [3] - According to the agreement, Hengshun Investment will transfer 38.1368 million shares (19.50% of total shares) to Bocheng Huineng, while Shanghai Tianji will transfer 10.768 million shares (5.51% of total shares) [3] - After the transfer, Hengshun Investment and Shanghai Tianji will hold a combined 6.95% of the shares, while Bocheng Huineng will hold 25.01% [3] Group 2: Financial Aspects of the Acquisition - Bocheng Huineng is required to pay a cash consideration of 450 million yuan for the 25.01% stake, needing to raise an additional 210 million yuan [4] - Bocheng Huineng has committed to not using borrowed funds secured by the shares acquired in this transaction to pay for the share transfer price [4] - The company was established specifically for this acquisition, with a registered capital of 240 million yuan [4] Group 3: Regulatory and Market Reactions - The stock price of *ST Huaron has surged, achieving six consecutive trading limit-ups since its resumption on August 12, with a short-term increase of 33.96% [5] - The Shanghai Stock Exchange has issued a regulatory warning to Bocheng Huineng and Lin Mushun for failing to prepare the required detailed equity change report and appoint a financial advisor [6][7] - The company has highlighted the significant uncertainty regarding the completion of the acquisition, urging investors to be cautious [5]