案例：濮阳惠成实控人家族信托落地，上市公司控制权纳入传承架构

Core Viewpoint - Puyang Huicheng Electronic Materials Co., Ltd. has restructured its family wealth holding structure by establishing a family trust, allowing the actual controller Wang Zhongfeng to place the control of the company into a trust framework for wealth management and succession [2][11]. Group 1: Family Wealth Holding Structure Restructuring - Wang Zhongfeng established a family trust to hold a significant portion of Puyang Huicheng's shares, with the family trust acting as a limited partner in a partnership that includes a family company [3][8]. - The restructuring allows for the control of Puyang Huicheng to remain unchanged, as the shareholding proportions of the actual controller and their family remain the same despite the internal transfer of shares [3][9]. - This case marks the first instance in China where a controlling shareholder has placed over half of their shares in a family trust, setting a precedent for future family wealth management [3][11]. Group 2: Analysis of Family Wealth Management and Succession Structure - The family trust serves as a top-level structure that isolates risks, ensures directed succession, and maintains independent asset ownership [9][10]. - The combination of a family trust and a limited partnership allows for a clear separation of control rights and economic rights, with family members retaining control while the trust holds the economic benefits [9][10]. - The structure is designed to optimize tax costs and facilitate efficient capital flow, which is crucial for long-term wealth management [9][10]. - The underlying assets of the family trust consist of publicly traded shares, which are seen as quality assets suitable for long-term family wealth succession [10][11]. Group 3: Summary - The establishment of the family trust by Puyang Huicheng's actual controllers represents a significant development in the wealth succession planning of listed companies in China, following similar cases in other firms [11]. - This case highlights the growing trend among family-owned businesses to implement structured wealth management strategies as founders age and the next generation prepares to take over [11].