Zhong Guo Ji Jin Bao·2025-11-24 15:45Core Viewpoint - Weiling Co., Ltd. is planning a change in control, leading to an emergency suspension of its stock starting November 25, 2025 [2][5]. Group 1: Control Change Announcement - Weiling Co., Ltd. announced that its controlling shareholder, Shanghai Lingyi New Materials Co., Ltd., and actual controller Huang Da are planning a significant matter that may lead to a change in the company's control [5][9]. - The company will suspend trading of its stock for a maximum of two trading days, with the stock expected to resume trading on November 27, 2025 [5]. - On November 24, 2025, Weiling's stock price surged, reaching a market capitalization of 4.404 billion yuan [5]. Group 2: Share Transfer Details - The company received notification that Shanghai Lingyi and Huang Da are planning to transfer a total of 2,023,800 shares, representing 7.7646% of the total share capital, through a private agreement [8]. - Following the share transfer, Shanghai Lingyi's holding will drop below 5%, potentially resulting in a situation where the company has no actual controller [9][11]. Group 3: Historical Shareholding Changes - Shanghai Lingyi's shareholding has significantly decreased due to various factors, including dilution and active reduction, from 23.93% in November 2022 to 12.10% as of October 24, 2025, a change of 6.39% [12][14]. - The company has faced regulatory scrutiny due to failure to report shareholding changes in a timely manner, receiving warnings from the Hunan Securities Regulatory Bureau and the Shenzhen Stock Exchange [12]. Group 4: Financial Performance - Weiling Co., Ltd. has experienced financial difficulties, reporting losses in multiple years since 2021, with net losses of 222.3 million yuan in 2023 and 308 million yuan in 2024 [15][18]. - In the first three quarters of 2025, the company achieved revenue of 213 million yuan, a year-on-year decline of 53.88%, while the net loss was reduced to 13.05 million yuan [18]. - To mitigate performance pressure, the company has expanded into other mineral sectors, acquiring a 74.3% stake in Jiayu Mining for 222 million yuan [18].