Digital China(SZ:000034) Xin Hua Ri Bao·2025-10-11 23:28Core Viewpoint - Digital China is at a "critical moment" in its development, facing uncertainty regarding its actual control due to a recent divorce ruling involving its controlling shareholder, Guo Wei [1][2]. Group 1: Legal Proceedings - On September 30, 2025, the Beijing Haidian District People's Court ruled that Guo Wei and Guo Zhengli divorced, with property division still under review [7]. - Guo Wei initiated the lawsuit against Guo Zhengli, seeking divorce and property division [6][5]. - The court's ruling is a preliminary judgment, and the final outcome regarding the control of the company remains uncertain [9]. Group 2: Shareholding and Financial Implications - Guo Wei's shares, amounting to 77.39 million shares (50% of his holdings and 11.56% of the total shares), were frozen by the court, with a market value of approximately 3.394 billion yuan based on a closing price of 43.86 yuan per share [3][10]. - If the frozen shares are divided in the divorce, Guo Zhengli could potentially become the second-largest shareholder, holding over 10% of the company, which would significantly impact the company's governance [10]. - The company has maintained a clear separation from its controlling shareholder in terms of assets and operations, ensuring its independent operational capability [9]. Group 3: Management Changes - Prior to the court ruling, Guo Wei stepped down as the legal representative of the company, with Wang Bingfeng appointed as the new legal representative [10]. - Wang Bingfeng has held various leadership roles within Digital China since joining in September 2021 and was appointed co-chairman and CEO in April 2023 [11].