ZJJF(SH:600668) Zheng Quan Zhi Xing·2025-08-25 16:12Core Viewpoint - The report details the equity change of Zhejiang Jianfeng Group Co., Ltd., indicating that the state-owned shares will be transferred without compensation, enhancing the control of Jinhua International Land Port Co., Ltd. over the company [1][12]. Group 1: Equity Change Details - The equity change involves the transfer of 98% of Jinhua Transportation Investment Group Co., Ltd. shares from Jinhua State-owned Assets Operation Company to Jinhua International Land Port Co., Ltd. [2][12]. - After the transfer, Jinhua International Land Port Co., Ltd. will indirectly control 66,676,924 shares of Jianfeng Group, representing 16.15% of the total share capital [13][14]. Group 2: Company Structure and Control - Jinhua International Land Port Co., Ltd. is wholly owned by Jinhua State-owned Assets Supervision and Administration Commission, which is the actual controller of Jianfeng Group [3][4]. - The controlling structure of Jianfeng Group remains unchanged post-transfer, with the major shareholder still being Tongji Investment Co., Ltd. [14]. Group 3: Future Plans and Commitments - There are no plans to change the main business operations of Jianfeng Group in the next 12 months [15]. - Jinhua International Land Port Co., Ltd. commits to maintaining the independence of Jianfeng Group in terms of assets, personnel, finance, and operations [18][19]. Group 4: Compliance and Legal Framework - The equity change has been approved by the Jinhua Municipal Government's State-owned Assets Supervision and Administration Commission [2][12]. - The report asserts that there are no false records or misleading statements, and the information is complete and accurate [2][26].