Core Viewpoint - Liu Xiaodong, the controlling shareholder of BaiRun Co., plans to transfer 63 million shares, representing 6.01% of the company's total equity, to Liu Jianguo for a total consideration of RMB 1.47 billion, at a price of RMB 23.34 per share, which is calculated at a 10% discount to the closing price prior to the agreement [1][3]. Group 1 - Liu Jianguo holds 38.72% of the shares in Honma Golf through Kouunn Holdings Limited and has no other significant equity interests in listed companies [2]. - Liu Jianguo is a businessman from Wenzhou, Zhejiang, with a background in managing various companies, including Zhejiang Pentium Electric Co., and has significant ownership in Shanghai Pentium Enterprise Group [2]. - BaiRun Co. is well-known for its pre-mixed cocktails, particularly the RIO brand, and has seen its stock price increase nearly 15 times over two and a half years since mid-November 2018 [3]. Group 2 - BaiRun Co. began its foray into whiskey around 2020, raising RMB 1.006 billion through a private placement to fund whiskey aging projects, which are essential for producing the base liquor for pre-mixed cocktails [3]. - After the share transfer, Liu Xiaodong's holding will decrease to 34.58%, and the transfer aims to diversify the shareholder structure and bring in external resources to promote company development [3][4]. - Liu Jianguo has committed not to participate in the management of BaiRun Co. and will not reduce his holdings in the company for twelve months following the transfer [4].