Hualan (SZ:301027) Sou Hu Cai Jing·2025-11-21 16:56Core Viewpoint - The control of Huablu Group has been transferred to Xutong Investment for approximately 174 million yuan, indicating a significant shift in ownership and governance structure within a short timeframe [1][3][10]. Group 1: Transaction Details - The original controlling shareholders sold 8.5113 million shares to Xutong Investment for about 174 million yuan, which is perceived as a low price for acquiring control [1][4]. - The transaction was executed privately through an agreement rather than a public offer, enhancing the speed and confidentiality of the control transfer [3][6]. - Following the transaction, the remaining shareholders have committed not to seek control, consolidating governance under Xutong Investment [6][10]. Group 2: Shareholder Structure Changes - The number of actual controllers has decreased from 11 at the time of the company's listing to 7, and now control has been handed over to Xutong Investment [2][10]. - The original controlling shareholders have delegated their voting rights to Xutong Investment, effectively centralizing power despite retaining nominal ownership of shares [2][3]. Group 3: Market Reaction - The market reacted swiftly to the news of the control change, with stock price fluctuations observed immediately after the announcement [4][10]. - The transaction price of 174 million yuan has led to a reassessment of the company's market value and future growth potential by investors [4][10]. Group 4: Background of Xutong Investment - Xutong Investment is backed by Qianhai Equity Investment Holdings and Yuanhe Holdings, indicating a strong financial foundation and potential influence on the company's strategic direction [5][10]. - The rapid establishment and entry of Xutong Investment into the market suggest a well-coordinated strategy to acquire control [8].