NBSS(SH:600884) Zheng Quan Ri Bao·2025-10-30 23:12Core Viewpoint - The company is undergoing a significant restructuring process due to the bankruptcy of its controlling shareholder, Shanshan Group, which has implications for its operational control and financial stability [6][7][8]. Financial Data - The financial report for the third quarter indicates that the financial data has not been audited, and the company has provided assurances regarding the accuracy and completeness of the financial information [3][8]. - As of the end of the reporting period, Shanshan Group holds 320,296,700 shares of the company, with 287,012,100 shares pledged [4][5]. Shareholder Information - The company has experienced significant share pledges and freezes, with Shanshan Group and other related entities facing substantial shareholding restrictions [5]. - The company has a repurchase account holding 101,219,494 shares, representing 4.50% of the total share capital [5]. Restructuring Process - The Ningbo Intermediate People's Court has accepted the restructuring application for Shanshan Group and its subsidiary, Ningbo Pengze Trading Co., with a substantial merger restructuring process underway [6]. - A series of creditor meetings have been held to discuss the restructuring plan, with the first meeting occurring on May 15, 2025, and subsequent meetings leading to the recruitment of potential investors [6][7]. - The restructuring agreement allows investors to acquire control of 23.36% of the company's shares through various methods, indicating a potential change in the company's control structure [7]. Operational Impact - The company asserts that it maintains independent operational capabilities and that the restructuring of its controlling shareholder has not significantly impacted its daily operations [8].